# Markets & Orderbook {% hint style="info" %} The Pye Exchange is in early access. Sign up to the [waitlist](https://app.pye.fi/) to get early access trading & the Pye Exchange. {% endhint %} Markets are created and managed on an onchain orderbook is the on-chain trading layer where all PT and RT transactions are matched and settled. Every deposit made through Pye routes through the orderbook. **Order types:** * **Limit orders** — orders placed against a specific validator or LST market at a target rate. Fills when a matching counterparty appears. * **Market orders** — fill immediately at the best available rate in a given market. The orderbook accepts lockups that are arligned with the following fixed maturities schedule for 2026: | Month | Date | Maturity (UTC) | Issuance Start | Issuance Close | | --------- | ------------ | -------------- | -------------- | -------------- | | June | Jun 30, 2026 | `1751327940` | `1738368000` | `1751155140` | | September | Sep 30, 2026 | `1759276740` | `1738368000` | `1759103940` | | December | Dec 31, 2026 | `1767225540` | `1738368000` | `1767052740` | More information will be released shortly. Sign up here to get on the waitlist. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.pye.fi/markets.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.