In case of Continuous market, Orders are matched on the basis of price-time priority. For non-repo trades, the best buy order is the one with the highest buy price and the best sell order is the one with the lowest sell price. Orders are matched automatically by the trading system based on passive order price. In case of repo trades, the best buy order is one with the lowest buy rate and the best sell order is one with the highest sell rate. The trade rate is based on passive order rate.

In case of Negotiated market, Orders are matched and results in a trade if counter parties of each order, security descriptor, order price, order volume matches with the counter order.