Matching and settlement are two different steps. Matching happens on the exchange in milliseconds; settlement happens on the blockchain a short time later.
What happens after a match
When your order meets a matching one, the exchange submits a single transaction that moves the property shares to the buyer and the USDT to the seller at the same time. Either both legs succeed or neither does — there is no moment where one side has given away shares without being paid.
Order statuses
New — the order is waiting in the order book for a counterparty.
Partially filled — part of the order has filled and settled on-chain; the rest is still waiting in the order book. If the order later closes early — for example, you cancel it — the status stays Partially filled: the filled part is final and stays yours, only the unfilled remainder is closed, and the tooltip on the status explains why.
Pending — the order is matched and the settlement transaction is on its way to the blockchain.
Completed — the transaction is confirmed. From this point the shares are yours on-chain.
A completed order shows a link to the transaction in the blockchain explorer, so you can verify the transfer independently of the platform.
If settlement does not go through
Occasionally a settlement cannot be completed — for example, if the counterparty moved the tokens elsewhere between the match and the transaction. In that case the exchange reverses the fill: the trade is undone, your reserved funds are released and the order returns to you. You keep either the shares or the money you started with; nothing is left in an intermediate state.
