About Iceberg Orders Iceberg Orders will provide for large limit...

About Iceberg Orders

Iceberg Orders will provide for large limit orders where only a portion (the displayed volume) of the total order volume will be shown and immediately executable. The displayed volume acts as a limit order in terms of price-time priority execution. Once the displayed volume has been executed, the Iceberg Order will drop to the bottom of the time queue at its specified price, and the displayed volume will be replenished from the hidden portion of the order. The order cycles through until the total volume is executed.

http://www.asx.com.au/documents/resources/asx_trade_new_order_types.pdf