Limit Order Book


DEFINITION of 'Limit Order Book'

A record of unexecuted limit orders maintained by the specialist.


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BREAKING DOWN 'Limit Order Book'

The specialist has the responsibility to guarantee that the top priority order is executed before other orders in the book, and before other orders at an equal or worse price held or submitted by other traders on the floor (floor brokers, market makers, etc).

  1. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  2. At Limit

    An order that sets a maximum limit on the buy price and/or a ...
  3. Buy Limit Order

    An order to purchase a security at or below a specified price. ...
  4. Deck

    The number of open orders that a broker is working with at any ...
  5. Order

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

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