> ## Documentation Index
> Fetch the complete documentation index at: https://pond.dflow.net/llms.txt
> Use this file to discover all available pages before exploring further.

# Tokenized Equities

> Trade tokenized stocks and ETFs through the Trade API

Tokenized equities trade through the same [order endpoint](https://pond.dflow.net/resources/trading-api/order/order.md) as other tokens. For an equity, the response is a direct fill or an escrow fill. A direct fill settles in one transaction. An escrow fill holds the input in escrow onchain until it is filled; if it is not filled, the input is returned.

## Equities Features

* **[Ticker mapping](https://pond.dflow.net/resources/trading-api/equities/equities.md)**: The equities endpoint maps each ticker to its mint.
* **[Scaled amounts](https://pond.dflow.net/equities/orders.md#equity-response-fields)**: The response for an equity adds its ticker and scaled amounts.
* **[Platform fees](https://pond.dflow.net/equities/equity-fees.md)**: Builders collect a platform fee on equity fills.
* **[Onchain events](https://pond.dflow.net/equities/onchain-fill-parsing.md)**: The app reads direct fills, escrow fill transitions, and fees from onchain events.

## Equities Integration Steps

**1. Look Up Equity Mints**

Call the [equities endpoint](https://pond.dflow.net/resources/trading-api/equities/equities.md) to find the equity's mint.

**2. Call the Order Endpoint**

Call [`/order`](https://pond.dflow.net/resources/trading-api/order/order) with the equity mint as the input or output mint. See [Equity Fills](https://pond.dflow.net/equities/orders.md).

**3. Sign and Submit**

The user signs the returned transaction, and the app submits it for its [execution mode](#equity-execution-modes).

## Supported Equity Pairs

* USDC to or from an equity mint.
* Another token to or from an equity mint, which the order endpoint routes through USDC.

A request from one equity mint to another returns `400` with code `unsupported_equity_pair`. A request with the same mint on both sides returns `400` with code `same_input_and_output_mint`.

## Equity Execution Modes

| Fill | `executionMode` | Behavior |
| - | - | - |
| Direct fill | `sync` | Succeeds or fails as a whole. |
| Escrow fill | `async` | The transaction the user signs opens it onchain. The user cannot cancel it. |

The app submits each as described in [Submitting Equity Transactions](https://pond.dflow.net/equities/submitting.md). [Equity Fills](https://pond.dflow.net/equities/orders.md#direct-fill-or-escrow-fill) describes which one a request returns.