discretionary order

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 ?
Gronow v Gronow concerned a decision of the Family Court which had made a discretionary order granting custody of a child to the father.
This financing will constitute a "trade" in the security and the transaction cannot take place unless a prospectus has been filed and a receipt issued by the Alberta Securities Commission, unless an exemption is available or a discretionary order pursuant to the Act is obtained.
He used discretionary orders on the first day of the battle that weren't very clear.
Midpoint discretionary orders are designed to allow members to interact with two different types of inbound order flow -- those crossing the spread and those looking to hit the midpoint.
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.