DEFINITION of 'Significant Order'
An order to buy or sell a security that, due to its abnormally large size, has the potential to have a significant effect on a security's price.
BREAKING DOWN 'Significant Order'
Most significant orders are placed by institutional investors. Because institutional investors know that these large orders can affect share price, they often try to minimize the effects by spreading the orders out over several days or weeks, depending on the size of the order.