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Snap to Primary

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.

A Snap to Primary BUY order snaps to the bid plus the offset to set the order price. A SELL order snaps to the ask minus the offset.

To create a Snap to Primary Order

1.  Create a buy or sell order.

2.  From the Type field select SNAP PRIM.

3.  Specify an offset amount that will be added to the bid (for a buy order) to determine the limit price.

4.  Transmit.

For a more detailed description of relative orders visit the Order Types information page.  

Important Disclosures