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About Combination Orders

Create combination orders that include options, stock and futures legs (stock legs can be included if the order is routed through SmartRouting). Although a combination/spread order is constructed of separate legs, it is executed as a single transaction if it is routed directly to an exchange. For combination orders that are SmartRouted, each leg may be executed separately to ensure best execution. You can also create a futures EFP (Exchange of Futures for Physical) spread.

For details on using the VOL order type for combination orders, see the list of criteria in the Volatility Trading topic.

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You can create a unique combination by manually defining an order leg by leg on the Pair of Leg-by-Leg tab, or create an order or group of orders with a named strategy using a template, on either the Multiple or Strategy tab. You can find a template to construct the following named combination strategies:

For more information on combination orders and margin requirements for combination orders, see U.S. Equity Options Margin Requirements on the IB website.

Important Disclosures