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About Combination Orders

Create combination orders that include options, stock and futures legs (stock legs can be included if the order is routed through SmartRouting). Although a combination/spread order is constructed of separate legs, it is executed as a single transaction if it is routed directly to an exchange. For combination orders that are SmartRouted, each leg may be executed separately to ensure best execution. You can also create a futures EFP (Exchange of Futures for Physical) spread.

For details on using the VOL order type for combination orders, see the list of criteria in the Volatility Trading topic.



You can create a unique combination by manually defining an order leg by leg on the Pair of Leg-by-Leg tab, or create an order or group of orders with a named strategy using a template, on either the Multiple or Strategy tab. You can find a template to construct the following named combination strategies:

For more information on combination orders and margin requirements for combination orders, see U.S. Equity Options Margin Requirements on the IB website.

Important Disclosures