Fast markets
Short-round markets that open and close every few minutes, and how trading rules change near the end of a round.
What fast markets are
Section titled “What fast markets are”Fast markets are short rounds on a repeating schedule. Each round asks a quick question, for example whether an asset will be higher or lower when the round ends. When one round closes, the next one opens.
Rounds currently come in three lengths:
- 5 minutes
- 15 minutes
- 1 hour
On a fast market’s page you see a countdown to the end of the round and a strip of the previous and next rounds. You buy YES or NO shares as in any other market. See Placing orders.
The final seconds of a round
Section titled “The final seconds of a round”The last seconds of a 5-minute or 15-minute round have special rules. Currently:
- Limit orders are turned off in the final 10 seconds before the round closes. The trade panel shows: “Limit orders are disabled in the final 10s before this market closes — use a market order.” A limit order that is still waiting at close cannot fill, so use a market order instead.
- Selling is turned off in the same final window. The sell button in your portfolio is disabled and shows “Market is settling — cannot trade”.
- Buying with a market order stays available while the market still has offers to buy from. In the last seconds the offers can disappear. If you cannot buy, the panel shows: “Market is settling — trading is ending and orders may no longer fill. Your balance is untouched.”
If an order is refused because the round is ending, nothing is charged.
The 10-second window may change. The panel always shows the current value in its message.
Hourly rounds show the same round strip, but the 10-second rules above apply only to 5-minute and 15-minute rounds.
While a round is ending
Section titled “While a round is ending”In the last seconds the price shown for a position may not be a price you can trade at. Doxa then keeps showing the last tradable value for your position instead of a live price that nobody can trade against.
After the round closes, the market resolves and your shares are paid out or expire worthless. See Settlement and payouts.
- Place your order a little before the countdown ends. Do not wait for the last seconds.
- Use a market order if you need to get in late.
- Check the countdown before you submit. Rounds close on time, even if you are in the middle of an order.