matched and lost

Matched and lost

The outcome of the flip of a coin used to determine which of two brokers who are locked in competition for equal trades may actually execute the trades.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Matched and Lost

A broker's report to a client that an order was not executed because another order with equal priority was executed instead. When an order is made, a broker seeks to match and execute it with an equal but opposite order. If two orders are made at the same time with the same price and are competing to be executed, they have equal priority. Brokers then flip a coin to determine which order is executed. The losing broker makes the matched and lost report to the client.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

matched and lost

A report to a customer from a broker that an order was not executed because it lost out to another broker with an order of equal priority. When two or more orders are considered equal, the brokers must match to determine which one is executed.
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.