The Options Market Place - Order Execution

Most customer orders, which are market orders or executable limit orders, will be routed electronically to the trading post for automatic execution. The electronic system bypasses the firm’s commission house broker, the order is executed automatically, and an execution report is sent back to the brokerage firm. The more complex orders will be handled by the firm’s commission house broker. A member firm may not execute an order for a listed option off the floor of the exchange unless it has tried to execute the order on the floor and a better price is available in another trading venue.



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Types Of Orders


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RELATED TERMS
  1. Execution

    The completion of a buy or sell order for a security. The execution ...
  2. Executing Broker

    The broker or dealer that finalizes and processes an order on ...
  3. Market Order

    An order that an investor makes through a broker or brokerage ...
  4. Directed Order

    A customer order to buy or sell securities, wherein the customer ...
  5. Firm Order

    1. A market order to buy or sell a security for a brokerage's ...
  6. Order

    An investor's instructions to a broker or brokerage firm to purchase ...
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