What is an Iceberg Plus order?

What is an Iceberg Plus order?

• A. Visible part placed in CLOB, full order size available for execution in MPOB
• B. Visible part placed in MPOB, full order size available for execution in MPOB
• C. The entire order size displayed in CLOB only
• D. Visible part placed in MPOB, full size visible in CLOB

Answer: (A)

Iceberg Plus hides most of a large order by splitting what’s shown to the market from what can still be traded. The portion that is visible is placed in the public CLOB (Central Limit Order Book), while the full order size remains available for execution in the MPOB. This arrangement lets traders present only a small, visible slice to avoid signaling the total size and moving the market, while still allowing the rest of the order to be filled through the MPOB. That’s why the statement describing a visible part in the CLOB and the full size executable in the MPOB is the correct description.

Iceberg Plus hides most of a large order by splitting what’s shown to the market from what can still be traded. The portion that is visible is placed in the public CLOB (Central Limit Order Book), while the full order size remains available for execution in the MPOB. This arrangement lets traders present only a small, visible slice to avoid signaling the total size and moving the market, while still allowing the rest of the order to be filled through the MPOB. That’s why the statement describing a visible part in the CLOB and the full size executable in the MPOB is the correct description.