Pegged-to-Benchmark Orders

The Pegged to Benchmark order is similar to the Pegged to Stock order for options, except that the Pegged to Benchmark allows you to specify any asset type as the reference (benchmark) contract for a stock or option order. Both the primary and reference contracts must use the same currency.

The Pegged to Benchmark order continually adjusts the primary order price by the specified offset based on movement in the price of the user-defined reference contract. To determine a change in price, the reference contract price is subtracted from the "Starting" reference price (or the current NBBO midpoint if no starting price is defined). You may also enter a high/low stock price range that triggers a cancel request when reached.


The Reference Table to the upper right provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.

Products Availability Routing TWS
Stocks US Products Smart Attribute
Non-US Products Directed Order Type
Time in Force
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