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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Cole includes everything from changes in the Chain of Command, the arrival of lesser commands, communication styles, insufficient instructions, discretionary orders, the disregarding of orders, failed notifications, communication cutoffs, and so much more.
Ewell discretionary orders to take the Federal position on Cemetery Hill "if practicable." But Ewell was reluctant to push his advantage on the eve of the first day, and by the next morning, Union troops were dug in and reinforced, making their position virtually impregnable.
Longstreet, on the other hand, proved fully capable of executing discretionary orders on the battle's second day.