Used for listed equity securities. Off-floor order.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
An order to a brokerage to buy or sell a security in which the counterparty is the brokerage itself. That is, the brokerage fills the order from its own inventory of the security. Some exchanges prohibit these trades.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved