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Flash Order

An order (buy or sell order) that flashes (shows) information from an exchange about incoming flow a fraction of a...

Marketable Sell Order

A marketable limit order that the broker or exchange can execute immediately when it is submitted by a seller. It...

Basket Algorithm

A trading algorithm that is used by electronic traders to execute orders on a basket of securities simultaneously (i.e., optimized...

Flash Trade

A trade (buy or sell order) that flashes information from an exchange about incoming orders a fraction of a second...

Volume-Weighted Average Price

The ratio of the value of securities traded to the total volume traded over a given period of time (usually...

Round-Trip Commission

The total commission costs for both sides of a trade: the sell order and the buy order. These costs are...

Scale Order

An order (buy or sell order) that is placed by an investor seeking to establish or offset a position by...

Pre-Routing Order

An order (buy or sell order) that is placed in the market or a venue in advance of the public...

Dark Platform

An electronic trading venue/ platform that is not required to provide to the public information like trade sizes prior to...

Or Better

An instruction that is attached to an order that will be placed in the market, provided that the price is...