partial execution

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Partial Execution

A situation in which a broker fills part of a client's order, but is unable to fill the whole order because of the lack of a corresponding order. For example, if an investor makes an order to a broker to sell 1,000 shares at a certain price, but there are only buyers for 600 shares, the broker partially executes the order and looks for buyers for the remaining 400. The leftovers from a partial execution are called leaves.

partial execution

Execution of less than the full amount of an order. An investor may place an order to buy 500 shares of GenCorp at $15 or less and get a partial execution if the broker is able to buy only 300 shares at that price. Also called partial fill.
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The market has a basic mission with VISA and studies of partial executions (EXE: structures, fluids, electricity, cooking).
This platform aggregates all partial executions within an order into one single trade ticket with one average price for settlement, with the client's choice of credit counterparty.
As the mathematically calculated best price, the VBBO corresponds to the price that investors would receive with ideal partial executions in all key reference markets.
While CSFB gave prompt partial executions to three of the six customer sell orders for approximately 15 percent of the combined volume of the six sell orders, the balance of the six orders received untimely executions.
The VBBO is calculated from simulated partial executions on the relevant European reference markets LSE, XETRA, NYSE Euronext and Chi-X.

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