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All-Or-Nothing

A condition that is used on a buy or sell order whereby a broker is instructed to execute the order...

Derivative Order

A type of limit order in which the limit price is derived from, or linked to, a given trading variable...

Best Algo

An algo (algorithm) that seeks out the best available price (execution price) for a security on any exchange or electronic...

Shotgunning

The process of using an aggregator or algo (algorithm) to scan the marketplace for liquidity. The aggregator or algo will...

Best Algorithm

An algorithm that seeks out the best available price (execution price) for a security on any exchange or electronic limit...

Best

An algorithm that seeks out the best available price (execution price) for a security on any exchange or electronic limit...

Directed Order

An order that is placed by a client with a broker or dealer with instructions as to routing to a...

Dark Pool of Liquidity

A private platform (private exchanges) for trading securities, derivatives, and other financial instruments. Securities traded on dark pools are not...

Discretionary Order

A limit order that allows the broker to get the best buy or sell price and to determine the most...

Black Pool

A private platform (private exchanges) for trading securities, derivatives, and other financial instruments. Securities traded on black pools are not...