BBO

okx learn
OKX Learn
2022.03.18

Best-bid-offer refers to the best bid and ask price on the order book at any given time and is used to quickly set limit order prices that match the best market quotes.

Traders can set their own prices when placing limit orders, but these orders are only filled if the set prices meet what the market is willing to offer. Traders who wish to get the best prices but also want to get their orders filled quickly can use the BBO, or best-bid-offer option, when placing a limit order to automatically select the best market quote for order execution.