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Pegged-to-Market Orders

Description

Your order is pegged to buy on the best offer and sell on the best bid. You can also use an offset amount which is subtracted from the best offer for a buy order, and added to the best bid for a sell order.

 
Exchanges
Native: Simulated (by IB):
BRUT  
     
TWS Links
For information on how to create pegged-to-market orders, please refer to the
     

Example

This is an aggressive and efficient order type designed to execute.

If the NBB is 50.05 and the NBO is 50.10, the pegged-to market BUY order is submitted at 50.10. If the NBO rises to 50.15 and the order hasn't filled, your order price rises to 50.15, and continues to rise with the NBO until it executes. If the NBO drops to 50.05 and the order has not executed, your order price also drops to 50.05. If you define an offset amount, it will be subtracted from the NBO (or added to the NBB) to make your order slightly less aggressive.

 

   
     

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