Iceberg Order
An iceberg order is a large order in which only a small portion is visible in the public order book, while the remainder remains hidden until the visible portion is filled.
Example: A trading desk configures an iceberg order with a total size of 1,000,000 shares and a visible size of 50,000 shares; as the 50,000-share tip is filled, additional portions are revealed until the full 1,000,000 shares are executed.
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