Some brokers like Interactive Broker allows an order to be completely hidden from the market L2 depth view. That way the order size is invisible to casual participants.
In Zerodha one can change the disclose quantity but with a cap of 10% of the total order to hide the total size of the order.
- How is a hidden order handled in the exchange ?
- Who can see hidden orders to match liquidity ?
- What is the criteria based on which brokers decide what kind of orders to offer ? Why does IB offer complete annonymity while ZD offers partial ?
- What technology is required to view hidden orders ?