Guaranteed and Non-Guaranteed Multi-Leg Orders
A guaranteed multi-leg order is an order in which executions are guaranteed to be delivered simultaneously for each leg and in proportion to the leg ratio. This guarantee is fulfilled by the exchange.
Non-guaranteed multi-leg orders are not guaranteed to be executed proportionally to the required leg ratio, although every effort is made to execute the order that way.
Guaranteed multi-leg orders can be SMART routed or directed to a specific exchange, while non-guaranteed multi-leg orders can only be SMART routed.
Additional Information
- Guaranteed and non-guaranteed combination orders available in our Knowledge Base.