How Does the Stock Order Queue Work on Pluang?

Stock orders placed on Pluang are routed directly to the IDX trading system (JATS — Jakarta Automated Trading System), which matches orders using price-time priority: the best-priced order executes first, and when two orders share the same price, the one entered earlier takes precedence. This queue is managed entirely by the exchange, not by Pluang — Pluang simply forwards your limit order to JATS and reflects the result back in your app. Because Indonesian Stocks on Pluang currently support Limit Orders only, with Day validity, your order sits in the exchange queue until it matches an opposing order or the trading day ends, at which point any unmatched order automatically expires and held funds are returned to your RDN. Execution speed therefore depends entirely on how your price compares to the rest of the market, not on anything Pluang controls directly.

How the IDX order queue works:

1. Price priority — For buy orders: higher bids take priority. For sell orders: lower asks take priority.
2. Time priority — If two orders have the same price, the one entered first is executed first.
3. Automatic matching — JATS matches buy and sell orders automatically, without manual intervention from Pluang or the investor.

What this means for you:

• Your limit order enters the exchange queue and waits until a matching opposing order appears — execution can be immediate or take time, depending on market activity at your price
• Since Day is currently the only order validity type for Indonesian stocks on Pluang, any order still unmatched at market close expires automatically, with held funds returned to your RDN
• Pluang does not support Market Orders for Indonesian Stocks, so every order — regardless of urgency — goes through this same price-time queue

Related questions:

Q: Why hasn't my limit order filled even though the price has reached my level?
This usually happens when many other orders at the same price entered the queue before yours — JATS uses time priority whenever prices are equal, so earlier orders at your exact price get matched first. If the opposing side's volume runs out before reaching your position in the queue, your order simply carries over unfilled until either more volume arrives or the trading day ends.

Q: Can my order be partially filled?
Yes. If there isn't enough volume on the opposing side to fully match your order at your specified price, JATS will execute whatever quantity is available and leave the remainder open in the queue as a partial fill. The unfilled portion continues waiting in the queue under the same price-time priority rules until it matches, is cancelled, or expires at day's end.

Q: What happens to my order if the stock hits ARA or ARB while it's queued?
If a stock reaches its Auto Rejection Atas (ARA, upper limit) or Auto Rejection Bawah (ARB, lower limit), trading at prices beyond that limit is temporarily halted by the exchange. Your unfilled order stays in the queue rather than being cancelled immediately, but it won't match until the price returns within the allowed range or the order expires at the end of the trading day.

Q: Can I see my position in the order queue or view market depth on Pluang?
Pluang's Trade Page includes a live order book for Indonesian Stocks, showing aggregate bid and ask volumes at each price level so you can gauge how much volume sits ahead of a given price. This shows market depth rather than your individual queue position, so you can see how competitive your price is without knowing your exact rank within it.

Q: Does Pluang support Market Orders that skip the queue?
No. Indonesian Stocks on Pluang support Limit Orders exclusively — Market Orders, Stop Loss, and Take Profit orders are not currently available for this asset class. Every order, no matter how urgent, goes through the same price-time priority queue at the exchange rather than executing immediately at the best available price.