Series 53: Types Of Municipals Orders

Taken from our Series 53 Online Guide

Types of Municipals Orders

An order represents the intent to buy or sell. Orders placed on the market are generally divided into two types: price orders and time orders. A price order is an order to execute a transaction at a specified price or better. A time order is an order to buy or sell by a specified time, after which it is either cancelled or converts to a price order.

Price orders may be categorized as either market orders or limit orders. When an investor places a market order, she is requesting that the stock be bought at the best available price. Thus, no specific price is stated, but it is assumed that a seller will

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