SWIFT ISO 15022 - Code ICEB
Financial acronyms
The entire acronym collection of this site is now also available offline with this new app for iPhone and iPad.
Meaning
- Iceberg Order: Type of limit order whose overall quantity is not transparent to the market. Rather, only a client-defined part of the order is shown to the market (the 'tip of the iceberg'). Upon execution of the first 'tip' (that is partial execution to the client while for the market it does not appear to be a 'partial') the system releases the next 'tip' of the same size to the market until the 'iceberg' has been melted down successfully. Different from a usual care order.
Usages
Message type
Field number
Tag