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Post No Preference Order

An order that is eligible to interact exclusively with interest on the same exchange. The order will not route, and...

PNP Order

It stands for post no preference order; an order that is eligible to interact exclusively with interest on the same...

Pegged-To-Mid-Point Order

An order that allows traders to target a price at the mid-point of the National Best Bid and Offer (NBBO),...

Primary Pegging

Pegging an order with reference to the inside quotation on the same side of the market. For the price of...

Passive Liquidity Select Order

A passive liquidity order (PL order/ PLO) that is, once entered, it will not interact with an incoming order that...

PL Select Order

It stands for passive liquidity select order; a passive liquidity order (PL order/ PLO) that is, once entered, it will...

PL Order

It stands for passive liquidity order; a non-displayed order that allows market participants to provide liquidity to the market without...

PLO

An acronym for passive liquidity order; a non-displayed order that allows market participants to provide liquidity to the market without...

Passive Liquidity Order

A non-displayed order that allows market participants to provide liquidity to the market without publicly revealing their trading plans or...

Pegged-To-Midpoint Order

An order that allows traders to target a price at the midpoint of the National Best Bid and Offer (NBBO),...