--- title: What is the order book? description: "A practical guide to the order book: what it is, how to read it, and why it is essential to check it before placing your orders on ANote Music." --- [Skip to content](https://support.anotemusic.com/what-is-the-order-book#main-content) - [English](https://support.anotemusic.com/what-is-the-order-book) - [Français](https://support.anotemusic.com/fr/what-is-the-order-book) - [Italiano](https://support.anotemusic.com/it/what-is-the-order-book) English Show submenu for translations [![anotemusic-logo](https://support.anotemusic.com/hubfs/anotemusic-logo.svg)](https://www.anotemusic.com?hsLang=en) - [Why Music](https://www.anotemusic.com/why-music) - [Marketplace](https://www.anotemusic.com/marketplace) - [Company](https://www.anotemusic.com/company) Open main navigation Close main navigation - [Why Music](https://www.anotemusic.com/why-music) - [Marketplace](https://www.anotemusic.com/marketplace) - [Company](https://www.anotemusic.com/company) - - [English](https://support.anotemusic.com/what-is-the-order-book) - [Français](https://support.anotemusic.com/fr/what-is-the-order-book) - [Italiano](https://support.anotemusic.com/it/what-is-the-order-book) English Show submenu for translations - [Log in](https://app.anotemusic.com/) [Log in](https://app.anotemusic.com/) How can we help? - There are no suggestions because the search field is empty. 1. [ANote Music Support Centre](https://support.anotemusic.com/?hsLang=en) 2. [Market](https://support.anotemusic.com/market?hsLang=en) 3. [Secondary Market](https://support.anotemusic.com/market?hsLang=en#secondary-market) # What is the order book? When you need to buy or sell shares from a catalogue on the platform, the first thing you should **check is the order book**. An order book is an electronic list displaying all the buy and sell orders placed by other investors for a specific catalogue. The order book shows the prices and the number of shares that other investors are willing to buy or sell. ### **How does the order book work?** 1. **Placing orders**: You may place buy or sell orders specifying the price and quantity of shares. These orders are added to the catalogue’s order book. 2. **Order matching**: The platform matches buy and sell orders based on their prices. 3. **Execution**: When a match is found, the transaction is executed and the corresponding buy and sell orders are removed from the order book. 4. **Order book display**: The order book is displayed in one column divided in two colours - green for buy orders and purple for sell orders. This information helps investors get an idea of the market and make informed decisions. ![Orderbook](https://support.anotemusic.com/hs-fs/hubfs/Support%20Centre/Order%20book/Orderbook.png?width=366&height=204&name=Orderbook.png) **Successful order execution** **Remember**: orders are successfully executed only when they match an opposite order. For example, if you want to buy a share for €10.00, someone else must be willing to sell their share for €10.00 or less. If there is a positive difference between a buy order and a sell order, the orders cannot be matched, and the trade will remain pending. You can view any non-executed orders in your Portfolio under Pending Orders. From there, you can either wait for a matching buyer or seller, or cancel the order. If you have a pending order and another investor matches your price, you’ll receive a notification informing you that the transaction has been executed. If you have further questions about the order book or how to place an order, you may contact our Customer Support Team at support@anotemusic.com. - [ANote Music](https://support.anotemusic.com/anote-music?hsLang=en) - [Market](https://support.anotemusic.com/market?hsLang=en#main-content) - [Auction](https://support.anotemusic.com/market?hsLang=en#auction) - [Secondary Market](https://support.anotemusic.com/market?hsLang=en#secondary-market) - [Add and withdraw funds](https://support.anotemusic.com/add-and-withdraw-funds?hsLang=en#main-content) - [Adding funds](https://support.anotemusic.com/add-and-withdraw-funds?hsLang=en#adding-funds) - [Withdrawing funds](https://support.anotemusic.com/add-and-withdraw-funds?hsLang=en#withdrawing-funds) - [Account](https://support.anotemusic.com/account?hsLang=en) - [Backstage Pass](https://support.anotemusic.com/backstage-pass?hsLang=en#main-content) - [Backstage Pass](https://support.anotemusic.com/backstage-pass?hsLang=en#backstage-pass) - [NOTES](https://support.anotemusic.com/backstage-pass?hsLang=en#notes) - [Cashback](https://support.anotemusic.com/backstage-pass?hsLang=en#cashback) - [Rewards](https://support.anotemusic.com/backstage-pass?hsLang=en#rewards) - [Platform](https://support.anotemusic.com/platform?hsLang=en) - [Catalogues](https://support.anotemusic.com/catalogues?hsLang=en#main-content) - [Catalogue performance](https://support.anotemusic.com/catalogues?hsLang=en#catalogue-performance) - [Portfolio](https://support.anotemusic.com/portfolio?hsLang=en#main-content) - [Portfolio builder](https://support.anotemusic.com/portfolio?hsLang=en#portfolio-builder) - [Royalties](https://support.anotemusic.com/royalties?hsLang=en#main-content) - [Music rights](https://support.anotemusic.com/royalties?hsLang=en#music-rights) - [Royalties](https://support.anotemusic.com/royalties?hsLang=en#royalties) - [Contact us](https://support.anotemusic.com/contact-us?hsLang=en) [![anotemusic-logo](https://support.anotemusic.com/hubfs/anotemusic-logo.svg "anotemusic-logo")](https://www.anotemusic.com/?hsLang=en) ANote S.A 9, Rue du Laboratoire, L-1911 Luxembourg, Luxembourg ![ANote Music Logo](https://cdn.prod.website-files.com/67976b92426eb626d10a7b37/67bf0ec5f29f6c4fe2cc8104_ANM%20LOGO-white.svg) ANote S.A. 9, Rue du Laboratoire, L-1911 Luxembourg, Luxembourg [![go to facebook](https://cdn.prod.website-files.com/67976b92426eb626d10a7b37/67bf20227a43b97bb656f9a1_ic-facebook-circle.svg)](https://www.facebook.com/anotemusic/) [![go to instagram](https://cdn.prod.website-files.com/67976b92426eb626d10a7b37/67bf20237f4438ac97f13c80_ic-instagram.svg)](https://www.instagram.com/anotemusic) [![go to X](https://cdn.prod.website-files.com/67976b92426eb626d10a7b37/67bf202537ba10550ff67ac9_ic-twitterx.svg)](https://twitter.com/anotemusic) [![go to linkedin](https://cdn.prod.website-files.com/67976b92426eb626d10a7b37/67bf2026114bed6f68224386_ic-linkedin-solid.svg)](https://www.linkedin.com/company/anote-music) [![go to youtube](https://cdn.prod.website-files.com/67976b92426eb626d10a7b37/67bf2024701ae8b300fb3547_ic-youtube.svg)](https://www.youtube.com/ANoteMusicOfficial) [![go to discord](https://cdn.prod.website-files.com/67976b92426eb626d10a7b37/67bf2024526e739d7d27719d_ic-discord.svg)](https://discord.com/invite/9ZWfskUPuc) More [Music catalogues](https://www.anotemusic.com/music-catalogues?hsLang=en) [Music creators](https://www.anotemusic.com/music-creators?hsLang=en) [Rewards](https://www.anotemusic.com/rewards?hsLang=en) Support [News](https://www.anotemusic.com/news?hsLang=en) [Customer support](https://support.anotemusic.com?hsLang=en) Legal [Privacy Policy](https://www.anotemusic.com/privacy-policy?hsLang=en) [Website T&Cs](https://www.anotemusic.com/website-terms-and-conditions?hsLang=en) [Payment service provider T&Cs](https://www.anotemusic.com/payment-service-provider-terms-and-conditions?hsLang=en) [Backstage Pass T&Cs](https://anotesolutions.com) Disclaimer ANote Music is a marketplace for buying and selling royalty interests and/or intellectual property rights and, as such, it does not constitute activities of the financial sector in Luxembourg and therefore ANote Music is not subject to the Luxembourg financial sector regulator (Commission de Surveillance du Secteur Financier - CSSF).  Royalty interests are the contractual right to perceive future music royalty income that is generated by various types of intellectual property rights/copyrights. Neither music royalties nor royalty interests constitute “financial instruments” within the meaning of the MiFID (the Directive 2014/65/EU of 15 May 2014 on markets in financial instruments) and the LFS (the Law of financial services of 5 April 1993, as amended) which is implementing the MiFID in Luxembourg.

None of the price quotations, information, news and research accessible on the website and the marketplace or shared through any other communication channels by ANote Music or its Affiliates constitute advice, recommendations or solicitation to any person in any jurisdiction to buy, sell or invest in any asset, royalty interests, intellectual property rights. Any decision made by a person to participate in ANote Music marketplace’s activities should be made on the basis that such an activity complies with any applicable local laws and regulations to which the user is subject to. The user should not access the ANote Music marketplace if such an activity does not comply with any applicable local laws and regulations to which the user is subject to. 

Keep in mind that purchasing royalty interests and/or intellectual property rights involves risk and you may lose the invested capital. The value of your royalty interests or intellectual property rights will fluctuate over time and you may gain or lose money. Past performance is not a guarantee of future returns, nor is it necessarily indicative of future performance. This disclaimer cannot disclose all of the risks and other significant aspects of dealing with royalty interests and intellectual property rights. You should satisfy yourself that you fully understand the conditions which apply to such assets, our services and the potential risk exposures. The images and pictures on the website and on ANote Music marketplace are merely illustrative and may contain data that are no longer updated or valid. Please always refer to the current pricing and valuation of royalty interests or intellectual property rights, as the case may be, in the relevant section on ANote Music marketplace. ```json { "@context" : "https://schema.org", "@id" : "https://www.anotemusic.com/#organization", "@type" : "Organization", "name" : "ANote Music", "url" : "https://www.anotemusic.com" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://support.anotemusic.com/#website", "@type" : "WebSite", "description" : "Find answers to common questions, explore step-by-step guides, and get help with investing on ANote Music.", "inLanguage" : [ "en", "fr", "it" ], "name" : "ANote Music Support Centre", "potentialAction" : { "@type" : "SearchAction", "query-input" : "required name=search_term_string", "target" : { "@type" : "EntryPoint", "urlTemplate" : "https://support.anotemusic.com/kb-search-results?q={search_term_string}&type=KNOWLEDGE_ARTICLE&groupId=257655602418" } }, "publisher" : { "@id" : "https://www.anotemusic.com/#organization" }, "url" : "https://support.anotemusic.com" } ```