In an Iceberg Plus order, where is the visible portion placed?

In an Iceberg Plus order, where is the visible portion placed?

• 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 CLOB
• C. Entire order size placed in CLOB with no MPOB involvement
• D. Full order size hidden from the market

Answer: (A)

Iceberg orders reveal only a portion to the market while keeping the rest in reserve. The visible portion is placed in the CLOB so the public can see and trade against that amount. The full order size stays in MPOB and is available for execution from there, allowing new chunks to be released to the market as the visible portion is filled. This arrangement lets liquidity be visible without exposing the entire size.

Iceberg orders reveal only a portion to the market while keeping the rest in reserve. The visible portion is placed in the CLOB so the public can see and trade against that amount. The full order size stays in MPOB and is available for execution from there, allowing new chunks to be released to the market as the visible portion is filled. This arrangement lets liquidity be visible without exposing the entire size.