The MidPrice order attempts to fill at the current midpoint of the NBBO or better. Set an optional price cap to define the highest price (for a buy order) or the lowest price (for a sell order) you are willing to accept.
To create a MidPrice Order
Populate the Order Entry panel by selecting an instrument in a linked window, or by typing the symbol in the entry box.
Click Buy or Sell.
Select MIDPRICE from the list of order types.
Optionally, set a price cap and modify any other order parameters as needed.
Click Submit to send the order.
To create a MidPrice Order in Classic Layout
- Click the Ask price to create a BUY order, or the Bid price to create a SELL order.
- In the Type field select MIDPRICE as the order type.
- Optionally use the Price Cap field to set a cap, and modify any other order parameters as needed.
- To transmit the order, click the "T" in the Transmit field.