GDAX is the largest digital asset exchange in the U.S. and focused on serving institutional clients and professional traders
GDAX operates a continuous first-come, first-serve order book. Orders are executed in price-time priority as received by the matching engine. GDAX operates a maker-taker model. Orders which provide liquidity are charged different fees from orders taking liquidity. The fee is assessed as a percentage of the match amount (price * size). Self-trading is not allowed on GDAX.