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Market Not Held Order |
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Market Not Held Order Also a market order, but the investor is allowing the floor broker to use his own discretion as to the exact timing of the execution. If the floor broker expects a decline in price and he is holding a "market not held buy order", he (she) may wait to buy, figuring that a better price will soon be available. There is no guarantee that a "market not held order" will be filled. Market Not Held Order An order to a broker to buy or sell a security at a certain price or better. This gives the broker the discretion to execute it at any time. As a result, he/she is not held responsible for missing the desired price and executing at a worse price. A market not held order is not executed immediately, but rather when the broker believes it is the best time to do so.
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