Order Types

Pegged Order

Definition

What is Pegged Order?

An order whose price automatically follows a reference such as the best bid, ask, or midpoint.

Example in practice

The buy order remains one tick below the best ask.

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An instruction to buy or sell immediately at the best available prices.

An instruction to trade only at a specified price or better.

An order that becomes active after a specified trigger price is reached.

The first official or regular-session traded price for a period.

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