Entering Iceberg Orders

CQG offers a suite of Smart Orders that includes iceberg orders. These orders are available for strategies (spread and aggregation) also.

An iceberg order is a limit day or GTC order that has both a total quantity and a display quantity that is shown publicly on the order book. These orders are supported on Globex, Ice, Montreal, and BrokerTec.

Add the Visible Size column to Orders and Positions to quickly identify the visible quantity for iceberg orders across many accounts.

Placing these orders requires an enablement from CQG and from you in Smart Order Preferences.

To enter iceberg orders

1.  Select ICBG from the duration drop-down menu. The order type icon changes: client iceberg icon.

2.  Place your order. This confirmation opens:

 

3.  If necessary, change the quantity or percent that you want displayed.

4.  Place the order. You see the total quantity or percent of your order client iceberg order, but only the display quantity is visible on the book.