Stopped Order

Stopped Order

On the New York Stock Exchange, an order by a specialist on the trading floor that stops the execution of a trade because the specialist believes that a better price will become available. When this occurs, the specialist must guarantee the market price at the time of the stopping of the order in case the better price does not materialize. Stopped orders are given by specialists actively involved in the market who are associated with an NYSE member firm. It should not be confused with a stop order.
References in periodicals archive ?
The Tulip fire (see News) has not stopped orders of rasher bacon leaving the main factory site.
They stopped orders of mustard, fenugreek and arugula seeds linked to Suffolk's Thompson and Morgan after eight people were hospitalised after eating sprouts.