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Dark Ice

The Dark Ice algo is similar to an iceberg or reserve order, as it allows the user to specify a display size different from the order size, which is shown in the market. Additionally, the algo randomized the display size +/- 50%, and based on the calculated probability of the price moving favorably, it decides whether to place the order at the limit price or one tick lower than the current offer for buy orders and one tick higher than the current bid for sell orders.

To create a Dark Ice algo

1.  Set up the order in the Mosaic Order Entry panel.

2.  From the LMT type field, select IBALGO and then select Dark Ice.

3.  Complete the algo parameters and click Submit to send the order.

Important Disclosures