Snap to Primary Orders
The Snap to Primary (SNAP PRIM) order is similar to a pegged order, as the original order price is determined by the current bid/ask plus or minus an offset. But unlike the pegged order price, the "snap to" order price doesn't continue to peg as the price moves.
The trader creates the order by selecting SNAP PRIM as the order type, then enters an offset amount which computes the active limit price as follows:
Sell order price = Ask price - offset amount
Buy order price = Bid price + offset amount
The Snap to Primary order is simulated on all exchanges.
Notes:
The Reference Table to the upper right provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.
| Products | Availability | Routing | TWS | ||||
|---|---|---|---|---|---|---|---|
| CFDs | US Products | Smart | Attribute | ||||
| Stocks | Non-US Products | Directed | Order Type | ||||
| Options | Time in Force | ||||||
| Futures | |||||||
| Open Users' Guide | |||||||
Snap to Primary Orders Short Video
Your capital is at risk.
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority.
Example
Notes:
- Although native pegged orders on Island support negative offsets, IB pegged-to-market orders do NOT support negative offsets.
- IB pegged-to-market orders with an offset greater than zero will follow the market price up and down.