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Market-if-touched |
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Market-if-touched (MIT) A price order, below market if a buy or above market if a sell, that automatically becomes a market order if the specified price is reached. Market-if-touched An order to a broker to buy or sell a security at a certain price when that price becomes available. MITs are common in futures markets, and are often borne from technical analysis. An MIT may be a day order or a GTC order, but not an immediate or cancel order. For example, if shares are trading at $10 and an MIT is made to buy at $11, the broker buys no securities until the price is actually $11 per share. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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