DEFINITION of 'Box-Top Order'

A buy or sell order made at the best market price. If the order cannot be completely filled, a limit order is placed for the remaining shares at the price at which the filled portion was executed.

BREAKING DOWN 'Box-Top Order'

For example, if a trader entered a box-top order to buy 1,000 shares at the current market price of $50, and only half of the shares are traded at that price, then a buy limit order is placed for the other 500 shares. If at any point during the life of the order the price returns to $50, the limit order kicks in and the remaining shares will be traded at $50.

RELATED TERMS
  1. Immediate Or Cancel Order - IOC

    An order to buy or sell a security that if not immediately filled, ...
  2. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  3. Market-With-Protection Order

    A type of market order that is canceled and re-submitted as a ...
  4. Away From The Market

    An expression that is used when the bid on a limit order is lower ...
  5. Bracketed Buy Order

    A buy order that is accompanied by a sell limit order above the ...
  6. Below The Market

    An order to buy or sell a security at a price that is lower than ...
Related Articles
  1. Trading

    The Basics Of Trading A Stock

    Taking control of your portfolio means knowing what orders to use when buying or selling stocks.
  2. Investing

    Explaining Market Orders

    A market order is the most common order used to purchase a financial security.
  3. Trading

    Which Order To Use? Stop-Loss Or Stop-Limit Orders

    Stop-loss and stop-limit orders can provide different types of protection for investors seeking to lock in profits or limit losses. Investors need to know how each type of order works to know ...
  4. Investing

    Making The Trade: Understand Order Types

    Buying and selling stock can be a lot like buying or selling a car. Traders should use and understand tools such as market orders, limit orders, day orders, and good-'til-canceled orders to ensure ...
  5. Trading

    Understanding Order Execution

    Find out the various ways in which a broker can fill an order, which can affect costs.
  6. Trading

    NYIF Instructor Series: "Fill or Kill" Order

    In this short instructional video Anton Theunissen explains what the "fill or kill" order is.
  7. Trading

    How To Place Orders With A Forex Broker

    Learn how to set each type of stop and limit when trading currencies.
  8. Investing

    Narrow Your Range With Stop-Limit Orders

    With stop-limit orders, buyers protect themselves from prices too high for their tastes.
  9. Trading

    The Basics Of The Bid-Ask Spread

    The bid-ask spread is essentially a negotiation in progress. To be successful, traders must be willing to take a stand and walk away in the bid-ask process through limit orders.
RELATED FAQS
  1. How can I use a buy limit order to buy a stock?

    Learn how a buy limit order is used by an investor who wants to buy a stock at a certain price, and understand how limit ... Read Answer >>
  2. Why is the execution of a limit order not guaranteed?

    Using a limit order to buy a stock can be helpful in securing certain prices, but the mechanics of a limit order can decrease ... Read Answer >>
  3. What's the difference between a market order and a limit order?

    Buy and sell trades with market orders at the present stock price and execute limit orders if the stock price falls within ... Read Answer >>
  4. What are the advantages of a limit order over a market order?

    Understand the functional differences between a limit order and a market order and the respective advantages and disadvantages ... Read Answer >>
  5. How do I place a limit order online?

    Learn how a limit order is placed, the types of stocks it is most useful for and the specifications placed with it to suit ... Read Answer >>
  6. What is the difference between a buy limit and a sell stop order?

    Understand the differences between the two order types, a buy limit order and a sell stop order, and the purposes each one ... Read Answer >>
Hot Definitions
  1. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  2. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  3. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  4. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  5. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  6. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
Trading Center