New TRADE order type: REL w/limit

Latest Release
1

Dear All

We added a new Order Type to trade based on the Relative Order from IB. In addition to a price offset from the National Best Bid/Offer (NBBO) you can also specify a Limit price.

You will find an example in the Order Type drop-down called “Relative 0.01 peg + Limit” and you can also create your own with different price offsets.

Thanks

2

Excellent! People looking to offer liquidity will find this very helpful. Thanks Marco!!!

–Tom C

3

Not sure how this order works and the IB documentation isn’t clear.

  • If I would like to set a Limit order the night before at 0.10 below Open price, can i use this Order Type?
  • How does port123 set the Limit price in this order type? I tried TRADing one of my portfolios with this Order Type, but it didn’t ask for a Limit?
  • Is the idea of the Limit that it sets below Market price but moves up if the Market price moves up?