non-directed order

Definition

A type of order that is placed by a financial broker for the purpose of buying or selling a security on an exchange that the broker chooses. Therefore, the client who employs the broker to initiate this transaction is allowed to tell the broker that a particular exchange is preferable to them for this specific buy or sell transaction.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
nondepository financial institution non-disclosure agreement