Conditional Offer to Buy (COBs) will be credit-checked when entered. The credit check process continues while the IPO is open for COB submissions, until it is allocated on the first trading day. As the ability for an account to support the shares can change over time, it may be required for the COB to be reduced to a number in line with changes in Excess Liquidity. A COB will never be increased to a quantity higher than originally submitted, but it will be reduced to a quantity reflecting the maximum amount the account can support as determined by multiplying the COB quantity by 120% of the IPO’s price range high.
Why did IBKR reduce my submitted COB quantity?
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How long will Conditional Offers to Buy be accepted?
Can leverage be used to place a Conditional Offer to Buy?
Can a Conditional Offer to Buy be canceled or modified while the US IPO is open to accept COBs?
How will placing a Conditional Offer to Buy impact my trading?