discretionary order

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Discretionary order

A type of buy order or sell order that gives the broker the freedom and power to make the execution at any time and price that is seen fit and reasonable, given the investor's goals.

Discretionary Order

An order to buy or sell a security where the broker has the ability to decide when is the best time and price at which to execute the order, in accordance with the client's investment goals and the prudent person rule.

discretionary order

A customer order to a broker giving the broker discretion in the buying and selling of securities. Depending on the customer's instructions, the amount of discretion may vary from very limited (that is, price only) to nearly complete.
References in periodicals archive ?
Longstreet, on the other hand, proved fully capable of executing discretionary orders on the battle's second day.
Alternatively, traders can use discretionary orders to also allow an entire order to be held in reserve.
New Discretionary Order Type will Allow Traders More Control over Order Display
A decade ago traders managed trade blotters by passively handing out discretionary orders to brokers and taking trade reports throughout the day.
Consequently, the common shares, warrants and warrant shares may only be resold during such 12 month period in accordance with appropriate statutory exemptions from the prospectus requirements of the securities laws and if appropriate consents or discretionary orders have been obtained.
5 trillion inventory pool of short sale liquidity, as well as the ability to do short selling and discretionary orders as part of the directed trading capabilities.
Next Generation Ordering Capabilities - Reserve Orders, Discretionary Orders, Change Order (Cancel-Replace Orders) on supported ECNs, coupled with additional order control capabilities give clients more functionality and control over their trades.
exchange-listed equities, taking advantage of the complete Brut system and all available order types, such as discretionary orders and pegging, when executing trades.