Non-Directed Order

Non-Directed Order

An order to a broker to buy or sell a security on the exchange of the broker's choice. A client has the ability to tell the broker his/her preferred exchange for the execution of orders. A non-directed order, however, leaves this to the broker's discretion, with the assumption that the broker will offer or bid the exchange at the best price.
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25 maximum for non-directed order execution if executing firm charges an access fee.
Israel continued, "Contrary to our competitors, iFinancial has developed proprietary software that enables us to identify and extract the required non-directed order information from all execution venues, including clearing firms.
The DirectEX API provides an interface that localizes data and seamlessly routes directed and non-directed orders and executes trades globally.
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