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Priority

Used for listed equity securities. System used in an auction market, in which the first bid or offer price is executed before other bid and offer prices, even if subsequent orders are larger. NYSE rules stipulate that the bid made first should be executed first, or if two bids came in at once, the bid for the large number of shares receives "priority." The bid not executed is then turned to the broker, who informs the customer that the trade was not completed because there was stock ahead. See: Standing.

Priority

In an auction market, a rule stating that the orders for a new issue must be executed in the order in which they are received. That is, as long as an offer or bid is made at the requested price, it must be executed before an offer or bid that is made after it, even if the second one is larger.

priority

The preference received by a bid or offer entered first in an auction market. Regardless of size, the first offer has priority if a transaction occurs at the price specified by the order.

priority

An order of payment of creditors if there are insufficient assets to pay all creditors.

References in periodicals archive ?
Kent Sharples' charge that "if a group of committed employees are given the best information possible, they will make the best decisions for the institution," the council was able to sort through and assign top priorities to the proposals most important to the institution.
One major exception to the matching principle occurs when both the physician executive and the other party place high priorities on the relationship and low priorities on the substantive issues (interactive scenario 11).
Of the remaining nine scenarios in which the priorities of the physician executive and the priorities of the other party are incongruent, two (9 and 13) use the trustingly collaborative (C1) strategy.