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Message: ICEBERG
How do you tell that they are an Iceberg bid or ask ? I always thought that an Iceberg bid/ask was one that when sold or purchased, reappeared at the same value. Like an actual Iceburg, you only see about 1/3 of it. I have many color changes on Stockstream as the bid/asks come in but from what I found out, none of them corelate to underlying iceburg bid/asks.
Investopedia explains Iceberg Order
When large participants, such as institutional investors, need to buy and sell large amounts of securities for their portfolios, they can divide their large orders into smaller parts so that the public sees only a small portion of the order at a time--just as the 'tip of the iceberg' is the only visible portion of a huge mass of ice. By hiding its large size, the iceberg order reduces the price movements caused by substantial changes in a stock's supply and demand.
When large participants, such as institutional investors, need to buy and sell large amounts of securities for their portfolios, they can divide their large orders into smaller parts so that the public sees only a small portion of the order at a time--just as the 'tip of the iceberg' is the only visible portion of a huge mass of ice. By hiding its large size, the iceberg order reduces the price movements caused by substantial changes in a stock's supply and demand.
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