An order in which the customer sets a limit on the price and/or time of execution. Chicago Board of Trade glossary
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An order to buy a stock at or below a specified price, or to sell a stock at or above a specified price. For instance, you could tell a broker " buy me 100 shares of XYZ Corp at $8 or less" or "sell 100 shares of XYZ at $10 or better" The customer specifies a price, and the order can be executed only if the market reaches or betters that price. A conditional trading order designed to avoid the danger of adverse unexpected price changes. Bloomberg Financial Dictionary
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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. Chicago Mercantile Exchange Glossary
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1.On SETS, a limit order will be matched with an opposite order at the same price or better during automatic matching. Limit orders are the only order which can remain on the order book awaiting a matching order. On the derivatives market, in a limit order the customer stipulates the worst price that he will accept. On a buy order the limit indicates the highest price the customer is willing to receive, e.g. 99.50 bid for 10 contracts means that the customer will be willing to pay no more than 99.50 per contract. Such orders may not be filled if the limit is outside of the prevailing market trading range, e.g. if in the example above, the market is trading at 100-102. Dresdner Kleinwort Wasserstein financial glossary
2.Also MOC order
limit or market on close, an order type. Refers to an order which may be filled at or better than the limit during the trading day, but which if not already traded must be filled at the prevailing market price during the official closing period . Dresdner Kleinwort Wasserstein financial glossary
See also limit or MOC order
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An order to buy or sell a specified amount of a security at a specified price or better. Exchange Handbook Glossary
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An order of instructions that an investor gives to his broker, which sets out the limits that he/she is prepared to pay for investments.
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An order given to a broker by a customer that specifies a price; the order can be executed only if the market reaches or betters that price. LIFFE
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An order submitted to the electronic order book with a specified size and price which is either held on the order book or executes, either in part or full, against eligible orders with any remaining unexecuted portion being added to the order book. London Stock Exchange Glossary
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A buy or sell order only at a price that you specify (the Limit) or better. NYSE Euronext Glossary
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An order that stipulates the price at which a market transaction can be executed. The maximum price is stipulated for a buy order and the minimum for a sell. Limit orders are normally valid until a certain time specified by the client. They can also be Good Till Cancelled (GTC), remaining valid until the limit is reached and the order is executed, or until the order is cancelled.
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limit order UK US noun [C] STOCK MARKET
► an instruction to a financial organization to buy or sell shares, etc. at or below a particular price, and not above that price, within a certain period: »
Use a limit order to define the price you're willing to pay, which limits your market impact.
Financial and business terms. 2012.