What's happen when I only modify the price Limit?

Discussion in 'Order Execution' started by fredcom, Mar 2, 2007.

  1. fredcom



    How does it work if I modify only the Price Limit (say initially at 10$ and modify at 10.5$) but no change in the quantity of a buy order on stock ???
    Is my row change in the queue or not?

    Close to this first question, with IB, I can submit a "Discretionary order", which is "a limit order for which you define a discretionary amount (which is added to or subtracted from the limit price) that increases the price range over which the order is eligible to execute. The original limit price is displayed to the market."
    So, I think that IB probably "modify" (perhaps it's a cancel then a new order, but I don't think so) the order when the discretionary Limit is hit...
    It's why I would like to know if this "modify" bump me to the queue.

    In advance, thanks for your help.