Make vs. Take Orders

Because TSMx is a peer-to-peer exchange, every order is one of two types. You choose which one in the Order Slip.

Take — accept the odds shown

A Take order accepts the odds currently available in the market. If there’s a user on the other side, your order is matched immediately. Use Take when you’re happy with the price you see and want your order matched right away.

Make — set your own odds

A Make order lets you name your own price. Your order rests in the book and waits for another user to take the other side. It stays unmatched until someone accepts your odds, or until the market closes. Use Make when you want a better price than what’s currently shown and you’re willing to wait.

Which should I use?

• Want your order matched now? Use Take.

• Want a specific price and willing to wait? Use Make.

Either way, your order is matched against another user — never the house. See “How Order Matching Works.”