A buy limit order is said to be “inside the market” when: A. it reaches the exchange floor and is entered in the limit book. B. the limit is between the best bid and the best ask. C. the limit is below the best bid.
A limit order with a limit price between the best bid and the best ask is said to be “inside the market” or “making a new market.” A limit order that has not yet been executed is a “standing limit order.”
