A pegged-to-midpoint order provides a means for traders to seek a price improvement at the midpoint of the National Best Bid and Offer (NBBO). The price automatically adjusts to peg the midpoint as the market moves in any direction.
Most venues (including but not limited to NASDAQ/ISLAND) do not accept an offset from the midpoint.
For orders with no offset, you must specify the value "0" or "0.0" in TWS. Note that some exchanges may allow an offset amount in the future.
You can also define a price cap using the Limit Price field, to prevent your order from being executed above or below a specified price level.
Products | Availability | Routing | TWS | ||||
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Stocks | US Products | Smart | Attribute | ||||
Options | Non-US Products | Directed (to IBUSOPT for US options) | Order Type | ||||
IBKRATS | Time in Force | ||||||
*Orders that are directed to IBKRATS will float both ways with the market, resulting in improvement or disimprovement. |
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Open Users' Guide |
Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines. Interactive Brokers Canada Inc. is an order execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Our registered office is located at 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.
Know Your Advisor: View the CIRO AdvisorReport