The National Best Bid (NBB) is the highest price a trader is willing to pay for a security (or stock); while the National Best Offer is the lowest price someone is willing to receive when selling a security. Peg orders are frequently used by traders in volatile markets, because they provide the opportunity to get the best possible price when buying or selling a security. By acting as liquidity providers, and placing more aggressive bids and offers than the current best bids and offers, traders increase their odds of filling their order. D-Peg orders passively rest on the IEX order book while seeking to access liquidity at a more aggressive price up to the midpoint of the National Best Bid or Offer (NBBO), except when the IEX Signal determines that the quote is unstable or “crumbling.”. • There are three types of pegged orders: Primary Peg: Peg an order to the same side of the market. IEX Primary Peg orders rest on the order book 1 minimum price-variant (MPV, $0.01 for most stocks) lower than the NBB for buy orders and 1 MPV higher than the NBO for sell orders.

The last sale was at $10.11.

Pegged-to-Primary) orders provide a means for traders to seek a more aggressive price than the National Best Bid and Offer (NBBO). Please see the IEX Rule Book for a complete description of all order types. The NBBO is $10.10 x $10.14. – Order Transmitted.

Like D-Peg, RLP is a non-displayed order type that is priced at the less aggressive of one MPV lower (higher) than the NBB (NBO) for buy (sell) orders or the order’s limit price. D-Limit buy order is booked at $10.10. Discretionary Limit (D-Limit) behaves like a regular limit order, except when the IEX Signal predicts the price is about to change. Market peg orders follow the opposite side of the market than primary peg orders.

With functionality similar to Nasdaq’s other pegged order types, the MM Peg allows Market Markers to maintain attributable … In training, the trader would develop this order by establishing a limitation price, that’s the lowest price they’re ready to accept. The term market peg order refers to those that follow the best bid, when selling a security, and the best offer, when buying a security. Reverse Mortgage requests allow a trader to track exactly the ideal bidding once they’re available an inventory and the finest deal while purchasing a security. The Nasdaq Stock Market, Nasdaq BX and Nasdaq PSX offer a Market Maker Peg Order (MM Peg) type to help Market Makers meet their quoting obligations under Rule 4613(a). There are a number of different types of pegged orders. ", Discretionary Peg (D-Peg) is a non-displayed order type that is priced at the less aggressive of one (1) Minimum Price Variant (MPV, $0.01 for most stocks) lower (higher) than the NBB (NBO) for buy (sell) orders or the order’s limit price. The NBBO describes this gap between the NBB and NBO, which can be Called the spread. Additionally, limit orders may be designated as routable .

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