discretionary order


Also found in: Legal.

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.
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