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 periodicals archive ?
Administrative discretional decision-making is an evaluation activity (Stewart, 1975; West, 1984): when the administration makes its assessments, it has the freedom to evaluate a fact, giving to every element of the case a degree of importance.
In extant literature, we set proxy for accounting earnings management using discretional accruals.
Wilson, Brigham Young University, "Institutional and Discretional Discrimination in Public Sector Programs: The Union Army Disability Pension"
In short, this approach introduces so many criteria that an inability determination may be entirely discretional.
Their products are targeted towards meal occasions, not spending discretional time reading, socializing or working.
As a result, mistreated teachers typically withdrew from most discretional involvements such as committee work, school-wide events, special projects, and staff development.
Such orders give police discretional powers to disperse groups of two or more people within designated areas, and return home under 16s who are not in the care of a responsible adult between 9pm and 6am.
In addition, the applicant requested a declaratory judgment on the issue of a suggested conflict between provisions contained in the ISU rules, while it submitted that the head referee (although he did not refuse to receive a protest) "discouraged" the Canadian team leader to file a protest against his own discretional decision not to view the instant digital replay.
6, 2002, she filed a grievance after being told she was not eligible to receive 100 per cent of her salary while on leave studying but the CSC would give her a discretional allowance of 50%.
However, it is uncertain whether Monday's accord on the privatized firms' discretional power will actually be translated into action.
The tribunal made public what PVEM dissidents and many environmentalists knew already: namely that PVEM statutes safeguard discretional management in decision-making without consulting party rank and file.