> ## Documentation Index
> Fetch the complete documentation index at: https://docs.roxom.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Order behavior during market closures

> Understand how your orders behave when the underlying market is closed.

When the underlying market for a contract is closed, your orders may behave differently depending on their type and trigger settings. Understanding this will help you avoid surprises when markets reopen.

***

## Why this happens

Some Roxom contracts are linked to assets that follow traditional market hours (like US equities or commodities).

When those markets close, the **Mark Price** stops updating until they reopen.

<Info>
  **See each contract's trading hours** in the [Our Contracts Offering & Specs](https://docs.roxom.com/rulebook/our-contracts-offering-and-specs/gold-btc) section of our Rulebook.
</Info>

***

## How different orders behave

### Limit orders

* Stay active in the order book
* Can still be filled if another trader's market order matches your price
* If liquidity is low, they may remain pending until the market reopens

### Market orders

* Execute immediately at the best available price in the order book, even if the underlying is closed
* Price movement may be limited, but spreads can widen

### Conditional orders (stop loss / take profit)

* Trigger only if the chosen trigger price (Mark Price, Last Price, or Index Price) hits your set level
* If you use **Mark Price** or **Index Price** and it's frozen, the order won't trigger until it updates again when the market reopens
* Using **Last Price** as a trigger means it could still activate if there's trading activity on Roxom

<Info>
  **Learn how triggers work for conditional orders** in the [Order Types & Execution Rules](https://docs.roxom.com/rulebook/order-types-and-execution-rules/limit-order) section of our Rulebook.
</Info>

***

## Gaps on reopening

When the market reopens:

* Prices can jump ("gap") to a new level
* Conditional orders may trigger immediately at the first available price, which could be far from your set trigger
* This can cause slippage, especially on market orders

<Note>
  **Important:** Price gaps can cause significant slippage on conditional orders, especially stop-loss orders set close to current prices.
</Note>

***

## Tips for managing orders during closures

<Tip>
  **Before market closure:**

  * Review and adjust TP/SL before the market closes
  * Be aware of potential gaps on reopening
  * For tight stop losses, consider reducing position size or closing before the closure

  **Read more about market closure risk** in the [Behavior During Closed Hours](https://docs.roxom.com/rulebook/trading-hours/behavior-during-closed-hours-for-closed-hours-instruments) section of our Rulebook.
</Tip>

<Warning>
  This content is for informational purposes only and does not constitute investment advice. Trading digital assets involves significant risk, including the potential loss of your entire investment. Please review our [Risk Notice](/legal/risk-notice) before trading.
</Warning>

***

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