Glossary

Good This Week Order

See Also:

Market Order: Market Order is an order to buy or sell a futures or options contract at whatever price (in opposite to Limit order where price is specified) is obtainable when the order reaches the trading floor.

Limit Order: Limit Order is an order in which the customer specifies a minimum sale price or maximum purchase price, as contrasted with a market order, which implies that the order should be filled as soon as possible at the market price.

Day Order: Day order is an order that if not executed expires automatically at the end of the trading session on the day it was entered. There may be a day order with time contingency. For example, an "off at a specific time" order is an order that remains in force until the specified time during the session is reached. At such time, the order is automatically cancelled.

Stop Order: Stop Order (sometimes referred to as stop loss order) is an order that becomes a market order when a particular price level is reached. A sell stop is placed below the market, a buy stop is placed above the market.

Electronic Order: Electronic Order is an order placed electronically (without the use of a broker) either via the Internet or an electronic trading system.

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