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Snap to Market Order

Trading Term

The Snap to Market 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. A Snap to Market BUY order snaps to the ask minus an offset, to set the order price. For a SELL order, it snaps to the bid plus the offset. For more information, see the TWS Users' Guide.

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