Limit order: related pages
Agency cross A trade that a broker matches directly between two of its clients, bypassing the market.
Call auction Trading securities in batches: orders are collected, a price fixed that maximises the volume traded, and whatever orders can trade at that price execute.
Stop loss A trade that is made in order to limit the loss caused by an adverse price movement.
Bid price The highest price at which a buyer is willing to buy a particular security. The buyer may be a market maker or an ordinary investor.
Mid-price The average of the bid and offer prices.
Market maker A dealer who receives privileges in share dealing in return for providing liquidity, usually by always quoting firm bid and offer prices.
Yellow strip The best bid and offer prices shown on certain LSE trading screens.
Exchange market size The Minimum size of transactions up to which market maker quotes must be good for.
Tick The unit in which security prices move.
Immediate or cancel (IOC) order Immediate or cancel orders must be immediately executed or cancelled; partial filling is allowed.
All or nothing (AON) Order An all or nothing order is either executed in full or not at all.
Fill or kill (FOK) order Fill or kill orders must either immediatly be completely executed, or cancelled.
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