Passive Order
a.k.a. Resting order, Maker order
An order that waits in the book for someone else to trade against it, instead of grabbing an existing price.
A passive order sits and waits. If you place a limit order to buy below the current price, it rests in the book until a seller comes to you. That makes you a liquidity provider (a "maker"). The opposite is an aggressive order, like a market order, which crosses the spread and takes whatever price is on offer.
Passive orders can get you a better price, and on some exchanges a lower fee. The catch: there is no guarantee they fill. Price may never come to you.
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