IB "Sweep to Fill" order type

[trading1]

Is anyone familar with the "Sweep to Fill" order type? It's described as scanning for the best price and executing on it, but how is that different from a Market Order? There must be some type of difference, its actually looks on the helpguide like a limit order. Thanks in advance for any help

 

[Picaso]

http://www.interactivebrokers.com/en/trading/orders/sweep.php?ib_entity=llc

 

[Traveler]

Resurrecting an old thread for the same Q. Does a sweep to fill order issue multiple, simultaneous orders IOC to all destinations at your limit price or better?

 

[def]

Quote from Traveler:

Resurrecting an old thread for the same Q. Does a sweep to fill order issue multiple, simultaneous orders IOC to all destinations at your limit price or better?

yes
http://ibkb.interactivebrokers.com/node/1240

for more info, try the search box on the ib website as it will point to additional info.

 

[Traveler]

Thanks!