A more thorough explanation:

A matched order is an instruction to buy and sell the same security at about the same time, in about the same quantity, and at about the same price. For example, if you want to buy 100 shares of XYZ stock, you would place a matched order to buy 100 shares of XYZ stock and simultaneously sell 100 shares of XYZ stock. This type of order is commonly used in trading to ensure that both the buying and selling transactions are executed at the same time, reducing the risk of price fluctuations.

Other types of orders include:

• Market order: An order to buy or sell at the best price immediately available on the market.
• Limit order: An order to buy or sell at a specified price, regardless of market price.
• Stop order: An order to buy or sell when the security's price reaches a specified level (the stop price) on the market.
• Open order: An order that remains in effect until filled by the broker or canceled by the customer.

For example, if you place a limit order to buy 100 shares of XYZ stock at $50 per share, your broker will only execute the order if the price of XYZ stock drops to $50 or below. If the price never reaches $50, the order will not be executed.