Introduction to the Interactive Brokers’ IBUSOPT Order Destination

Interactive Brokers’ (IBKR) IBUSOPT allows the investor to rest liquidity adding orders option orders and interact with other IBKR investors who send marketable orders.

The Interactive Brokers (IBKR) IBUSOPT order destination supports One-Cancels-Another (OCA) order attribute, allowing the investor to set up multiple option orders while limiting the overall fill quantity.

The IBUSOPT Pegged-to-Best order type is available for US options directed to the IBUSOPT order destination. It is useful for investors to direct nonmarketable or liquidity providing orders to the IBUSOPT order destination that compete with the near side NBBO.

The IBUSOPT Pegged-to-Midpoint order type is available for US options directed to the IBUSOPT order destination. It is useful for investors to direct nonmarketable or liquidity providing orders to the IBUSOPT order destination at the midpoint.