SET Trade Iceberg condition

[maewang99]

I haven't found any really good English translations of the SET TRADE Iceberg condition flag for trading orders.

My question, if there is an iceberg trade sitting in the bid queue, maybe the best current bid let's say, and someone places a new bid at that same price, that is, on top of the iceberg bid already there... and that price is hit by a seller for more than the number of shares the iceberg bid displayed in the SET TRADE bid queue ahead of that new bid.... the sold shares in excess of that bid display are sold to the new bidder, not the iceberg players hidden total bid lot... assuming the number sold isn't enough to satisfy all of the bids in the queue at that best bid price plus all of the iceberg bidders total actual bid.

that's only fair so I would think that's how it works. but I don't want to try it nor bet on it.

in other words, the iceberg trade only ups the number of shares bid in the queue if the iceberg bid price remains the best bid after it is hit by a seller.... if anyone else gets in the queue behind the iceberg bid, before any bids have been hit at all (for my example), then SETTRADE only adds to the icebergs trade displayed and executable trades a new lot of shares BEHIND anyone already sitting at that price.

yes?

Edited June 20, 2016 by maewang99

[BkkLifeA]

to my opinion (and simple knowledge) an iceberg order is always 1 single order but just broken up. If the iceberg order is on top of the que, it will be there untill its completely eaten up. Its just broken in pieces so other people can not see the size.

No other limit order can jump the que and get above this "iceberg" limit order. (only when the iceberg order is cancelled and re-que-ed it goes to the bottom.)

is that the question ?

i dont think the SET has different rules as the rest but you never know TIT lol

[JayBird]

No, SET should have established rules (regardless of 'TIT' or not). Otherwise they would not be able to participate in the global market.

Iceberg Order: An Iceberg Order publicly displays only a portion of its total volume that is available for execution. The equal amounts of the ordered volume to be published in the orderbook can be specified by the broker. When the published portion of the ordered volume is executed, the next remaining portion is placed in the queue until the whole ordered volume has been executed.

An Iceberg order is allowed during open session and must be a limit price. A maximum published portion is 100 slices.

Unmatched volume of an Iceberg order in each trading session will be automatically canceled by the system. In addition, when the trading of a particular stock is halted, all unmatched volume of Iceberg orders will be automatically canceled.

More details: http://www.set.or.th/en/products/trading/equity/tradingsystem_p3.html

I believe the prices are run through a broker who may or may not enhance the price for you in an attempt to get the best offer.