Currently for FNO trades, we are forced to put a python SLEEP function as API limits 10 orders per sec per app. (this was discussed in earlier discussion initiated by me).
So making ICEBERG order will solve this issue that we will send entire order with full quantity (say for example 25000 NIFTY FUTURES) with leg size as quantity freeze (1800 currently). This way we can easilly overcome the 10 order per sec per app limitation by just sending one large iceberg order.
I hope this makes sense for traders who trade with large quantities.