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.
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
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.