A situation in which a broker fills part of a client's order, but is unable to fill the whole order because of the lack of a corresponding order. For example, if an investor makes an order to a broker to sell 1,000 shares at a certain price, but there are only buyers for 600 shares, the broker partially executes the order and looks for buyers for the remaining 400. The leftovers from a partial execution are called leaves.
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Execution of less than the full amount of an order. An investor may place an order to buy 500 shares of GenCorp at $15 or less and get a partial execution if the broker is able to buy only 300 shares at that price. Also called partial fill.
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.