Discretion

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Discretion

Freedom given to the floor broker by an investor to use his judgment regarding the execution of an order. Discretion can be limited, as in the case of a limit order that gives the floor broker some distance from the stated limit price to use his judgment in executing the order. Discretion can also be unlimited, as in the case of a market-not-held order. See also: Market Not Held Order.

Discretion

The ability to make decisions on one's own without the need to consult others. For example, a discretionary account gives a broker the right to make significant investment decisions without permission from or even consultation with the account's owner. Likewise, certain investments give an investor more discretion than others. An option contract allows but does not require the holder to buy (or sell) the underlying, while a futures contract requires the exchange to take place.
References in classic literature ?
cried that discreet lady in a whisper; for the fright was so great, that she had quite lost her voice, 'Mr.
Then the discreet automaton who had surveyed his ground, played a blossomless tuneless 'set,' and sixteen disciples of Podsnappery went through the figures of - 1, Getting up at eight and shaving close at a quarter past - 2, Breakfasting at nine - 3, Going to the City at ten - 4, Coming home at half-past five - 5, Dining at seven, and the grand chain.
And now, the grand chain riveted to the last link, the discreet automaton ceased, and the sixteen, two and two, took a walk among the furniture.
It is a large supposition; for discreet inquiry among servants and others has failed to corroborate it in any way.
Just six months after its launch, Procter & Gamble's Always Discreet product line has been recognized with three industry credentials.
Leading post-production facility Prime Focus used an Autodesk film pipeline including Autodesk 3ds Max software, the Discreet Smoke and Discreet Fire editing/finishing systems and the Discreet Lustre digital color grading system.
and Anark Corporation, have announced that they have partnered to bring media artists the ultimate multimedia and Web 3D toolkit--Anark Studio and Discreet plasma software.
Discreet has also announced that elements of gmax will be bundled with Microsoft(R) Flight Simulator 2002: Professional Edition, shipping in Q3 this year.
AUSTIN, Texas -- Tokyo Electron (TEL), announced Tuesday that Tokyo Electron Arizona (TAZ) has secured a permanent injunction in the United States District Court for the Eastern District of New York against Discreet Industries Corporation, and its president, Ovadia Meron, barring Discreet and Meron from using TAZ's trade secrets or the technical drawings Discreet illegally copied from TAZ's drawings for all of the 266 replacement parts at issue in the case.
today announced that New York-based post-production house Nice Shoes has advanced its advertising workflow with new and upgraded Discreet processing, visual effects and editing solutions.
With this latest release, Discreet remains unwavering in its commitment to provide its customers with consistent development and support of the industry's best 3D tools.
Turbo Squid, home of the world's largest collection of 3D products and worldwide publisher for the Discreet Certified 3ds max(R) Plug-in Program, has released the first two TURBO TOYBOX 3D content packs.