Order types, exchanges, quotes, settlement, FINRA and SEC rules and prohibited practices.
39 cards · basic cards · AI-written, checked twice. Edit anything.
- What is a market order?
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An order to buy or sell a security immediately at the current market price.- What is a limit order?
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An order to buy or sell only at a specified price or better.- What is a stop order?
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An order that becomes a market order once the stock reaches a specified trigger price.- What is a stop-limit order?
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An order that becomes a limit order once the stock reaches a specified trigger price.- What does Good-Till-Canceled (GTC) mean?
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An order that remains in effect until filled or canceled by the customer.- What does Good-For-The-Day (GTD) mean?
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An order that expires at the end of the trading day if not filled.- What is an Immediate-or-Cancel (IOC) order?
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An order to execute any portion immediately and cancel any unfilled balance.- What is an All-or-None (AON) order?
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An order that must be filled in its entirety or canceled, with no partial fills.- What is a Fill-or-Kill (FOK) order?
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An order that must execute immediately in full, or be canceled instantly.- What is the bid price?
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The highest price a buyer is willing to pay for a security.- What is the ask price?
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The lowest price a seller is willing to accept for a security.- What is the bid-ask spread?
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The difference between the bid price and the ask price.- What is a market maker?
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A dealer who buys and sells securities to provide liquidity and maintain fair prices.- What is the standard US stock settlement period?
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Trade date plus 2 business days (T+2).- What is cash settlement?
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Payment and delivery of securities on the trade date itself.
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