What is an Iceberg Order? 什么是冰山订单
Iceberg order is a conditional request made to the broker (or the system) to buy or sell a large required quantity of stock, but in smaller predetermined quantity. 冰山订单是向经纪人（或系统）发出的有条件请求，以购买或出售大量所需数量的库存，但需要较小的预定数量。
A buy or sell order for a large quantity of shares is placed, with the “Disclosed Quantity” for a small quantity of shares. 发行大量股票的买入或卖出订单，以及少量股票的“披露数量”。
A small quantity order is shown to the public as the tip of the iceberg, while a large quantity order stays hidden like the body of the iceberg. 一小部分订单作为冰山一角向公众展示，而大量订单则像冰山一样隐藏起来。
This usually done by the automated program. What ever quantity is disclosed will be available for order matching. Once that quantity is traded a second similar quantity is available for trade matching, until the full quantity is completely traded. 这通常由自动程序完成。 什么数量的披露将可用于订单匹配。 交易该数量后，第二个类似数量可用于交易匹配，直到完全交易全部数量。
In the absence of the automated program, several orders have to be separately keyed in. 在没有自动程序的情况下，必须单独键入几个订单。