Pegged Reserve Order

In trading, a pegged reserve order is an order placed with a broker by an investor which combines the characteristics of a pegged order with those of a reserve order (iceberg order).

A pegged reserve order is broken up into many smaller orders, each of which is only placed on the market once the previous order has been fulfilled. All orders are only fulfilled if securities can be bought or sold at prices dictated by the index which the order is pegged to.

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