Peg Market Order

[Trend Fader]

What exactly does IB's peg market order?

Is it only available with instinet? Why is it better/worse than a regular market order? Can someone explain?


-MIKE

 

[trader42]

looks like it

"Instinet Pegged Market Orders

Your order is pegged to buy on the best offer, and sell on the best bid"

from

http://interactivebrokers.com/html/tradingInfo/orderInformation.html