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fractional discretion order

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Fractional discretion order
A type of order that gives the broker discretion to alter the price, up or down, within a specific fractional range in order to guarantee an execution.
fractional discretion order
A customer's order to buy or sell a security, giving the broker limited discretion as to price. For example, an order to sell 200 shares at $75, 25ยข discretion, informs the broker that the customer would like a price of $75 per share but will accept a price as low as $74.75 per share.
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