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Hidden Orders

Lesson 11 of 21
Duration 2:22
Level Beginner
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A Hidden order attribute is available for U.S and Non-US products on the Pro platform. Accessible through both Mosaic, Classic TWS, and Mobile.

Study Notes:

A Hidden order works on U.S and non-US products and allows a large sized order to be submitted to the market while completely hiding the quantity. In other words, you may want to submit an order for 100,000 shares of stock XYZ but not want the marketplace to see your size, the Hidden order attribute will allow you to maintain anonymity from the outside world.

A Hidden order may be placed in the Mosaic Order Entry Panel in two different ways.

  • First, enter the symbol in the order entry panel and select SMART routing.
  • Choose Buy or Sell and select the size.
  • Now select the order type you want to use in the order type drop down box.
  • While in there scroll to the bottom and click the box next to Hidden.
  • Click “Submit” in the bottom right-hand corner.
  • The order confirmation window will appear.
  • Notice that under the order description it will show, “Hidden true”.
  • Click transmit and the order will appear in the activity panel below.
  • If it is not tradeable at the time of submission you will see a blue arrow next to it indicating, it is being held and monitored.

The second method is to create your order in the Order Entry Panel and then click on the “Advanced” button located to the right of the Time in Force.

Once the Advance drop down box appears click on the second box from the left, next to destination. This is the display size drop down.

Scroll down to the bottom and select “Hidden”. The box will now show “Hidden” in it. Exit out of the Advanced area by clicking on the red x in the top right of the box. When you’re ready to submit the order follow the same steps mentioned earlier in the first example.

The Hidden order attribute is useful if you want to submit a large sized order but don’t want your order to affect or be seen by other traders in the market.

Hidden Orders

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Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers, its affiliates, or its employees.

Disclosure: Order Types / TWS

The order types available through Interactive Brokers LLC's Trader Workstation are designed to help you limit your loss and/or lock in a profit. Market conditions and other factors may affect execution. In general, orders guarantee a fill or guarantee a price, but not both. In extreme market conditions, an order may either be executed at a different price than anticipated or may not be filled in the marketplace.

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