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Buy Limit Order: Definition, Pros & Cons, and Example
A buy limit order is an order to purchase an asset at or below a specified price. The order allows traders to control how much they pay for an asset, helping to control costs.
Canceled Order: Definition, How It Works, Types
A canceled order is a previously submitted order to buy or sell a security that gets cancelled before it executes on an exchange.
Stopped Order Definition
A stopped order was an NYSE market order that was stopped from being executed by the specialist or DMM with the intent to improve its price later.
Immediate Or Cancel Order (IOC) Definition
An immediate or cancel order (IOC) tries to fill as much of an order as possible in the next few seconds and then cancels any balance.
Not-Held Order Definition
A not-held order gives the broker or floor trader the time and price discretion to get the best possible price.
Directed Order Definition
Directed order flow occurs when a customer's order to buy or sell securities requires specific instructions for trading venue execution.
Order Driven Market Definition
An order-driven market is where buyers and sellers display their intended buy or sell prices, along with amounts of a security they wish to buy or sell.
Quote-Driven vs. Order-Driven Markets: The Difference
The difference between order- vs. quote-driven market systems lies in the display of bid and ask prices.
Direct Market Access (DMA): Definition, Uses, and Benefits
Direct market access refers to access to the electronic facilities and order books of financial market exchanges that facilitate daily securities transactions.
Block Trading Facility (BTF) Definition
A block trading facility (BTF) allows parties to bilaterally engage (buy/sell) in large transactions away from exchanges to avoid an outlier price point.