A Stop-Limit Order is an instruction to submit to the Exchange a buy or sell order at the specified limit price (or better) after the indicated trigger price has been reached in the market.
In a Stop-Limit Order, the Trigger Price must be currently placed as follows relative to the current market price for it be considered a valid Stop-Limit Order:
| Placement | Rationale | |
| Buy | Trigger Price > Current Price | Buy when price goes up |
| Sell | Trigger Price < Current Price | Sell when price goes down |