Orders, closing, and resolution
Placing an order does not always mean that a trade happens immediately. The order may wait for another trader, fill in parts, or be cancelled. The market also moves through its own stages before the final payout.
What can happen to your order
Scheduled
Orders placed while an event is live may wait briefly before entering the market. You can cancel a scheduled order during this delay. The available price and quantity may change before the order is released.
Open
An open order is waiting for another trader to accept its price. You can cancel it while it remains open.
Partially filled
Part of the order has traded, but some shares are still waiting. You can cancel the unfilled part. Trades that have already happened cannot be cancelled.
Filled
The entire order has traded. The resulting shares or sale proceeds are now part of your account. A filled order cannot be cancelled.
Cancelled
The unfilled part of the order is no longer active. You may cancel it yourself, or Juhus may cancel it because it expired, the market was resolved, or the order could no longer be completed. Any part that filled before cancellation remains a completed trade.
How a market moves toward resolution
| Market state | Can you place a new order? | What it means |
|---|---|---|
| Open | Yes | Trading is available. Orders can be placed and matched. |
| Paused | No | Trading has been stopped temporarily. Existing open orders remain visible and can still be cancelled. |
| Closed | No | Trading has ended while the final result is being determined. Existing open orders can still be cancelled. A closed market may be reopened before resolution. |
| Resolved | No | The final payout has been set and settlement has completed. Resolution is final. |
Only an open market accepts new orders. Juhus can also pause new trading across all markets when needed. You can still cancel your open orders during a trading pause.
The displayed close time
A market may show an expected close time. This is useful context, but reaching that time does not automatically close the market. Trading stops when the market is explicitly paused or closed.
Check the current market state before placing an order. If an event is delayed or its timing changes, the market may remain open longer than the displayed time.
Resolution and payout
Each market states how it will be resolved and which source will be used. When the result is known, the market is resolved and the payout is set. Any orders that are still open or scheduled are cancelled during settlement. Completed trades remain completed.
For a standard result:
- Each share in the correct outcome pays €1.
- Each share in the other outcome pays €0.
If an unusual or ambiguous outcome cannot be settled as a clear YES or NO under the written rules, Juhus may use a custom resolution. In that case, the YES and NO payouts are set to complementary amounts that total €1 per pair. For example, YES could pay €0.60 per share and NO could pay €0.40 per share.
A custom resolution is not necessarily a 50/50 split or a refund. Your gain or loss still depends on the price you paid for your shares.
Once a market is resolved, it cannot return to open, paused, or closed trading.