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price
Previous trading day's closing price unless otherwise stated. For certain securities, the latest price received from a pricing service is displayed.
Related to Order Entry: Definitions of the price qualifiers are stated below.
Market (MKT) - This is an order to buy or sell a stated amount of a security at the most advantageous price obtainable at the time the order is submitted.
Limit Price - This is a price instruction, where the client wishes to buy or sell securities at a specific price or better. With a sell limit order, the customer is instructing that the sale be made at or above the specified price. With a buy limit order, the customer is instructing the purchase be made at or below the specified price.
Stop Order (STP) - This price is above the prevailing market price on a buy stop, or is below the prevailing market price on a sell stop. Buy stop orders are generally used to limit loss or protect unrealized profits on a short sale. A stop order becomes a market order when a stock trades at or through the stop price.
Stop Limit - This order gives instructions for a limit order to be entered when the Stop Order becomes effective.
Related to Net Asset Value: Market price as of Net Asset Value date.
Related to Trade Confirmation: Execution price for the trade.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: Funds
- Company: Merrill Lynch
- Product:
- Acronym-Abbreviation:
Other Languages:
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