Maker

A maker is a market participant whose order adds liquidity to an order book. The order normally does not execute immediately and remains available for a matching counter-order.

Makers commonly use limit orders to specify the price at which they are willing to buy or sell. If the order remains in the book and is later matched by another participant, the corresponding execution is classified as maker execution.

Maker and taker describe the role of a particular execution rather than a permanent account classification. The same trader can be a maker in one trade and a taker in another.