Limit Order Book

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DEFINITION of 'Limit Order Book'

A record of unexecuted limit orders maintained by the specialist.

INVESTOPEDIA EXPLAINS '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).

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RELATED TERMS
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