(Author) As far as I know, Power Peg was indeed intended to essentially be a manual iceberg order from the time before that was an order type on the exchange (w

(Author) As far as I know, Power Peg was indeed intended to essentially be a manual iceberg order from the time before that was an order type on the exchange (with slightly different semantics). Rereading the source you quoted, it definitely wasn't a "buy high sell low" system, even if it was never used in prod.