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Quantitative Finance · Glossary

What is Order?

Definition 4.1 Markets I: The Ecosystem and Exchange-Traded Markets · Chapter 4 — Exchanges, Brokers and Venues

An order is a binding instruction to buy or to sell a stated quantity of an instrument, carrying at least a side, a quantity, a price condition (a limit, or “at market”) and a validity. It remains the responsibility of whoever sent it until it is executed, cancelled or expired.

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