Series 24: 5.6.6.4. Non-Directed, Directed, And Preferenced Orders

Taken from our Series 24 Online Guide

5.6.6.4. Non-Directed, Directed, and Preferenced Orders

A non-directed order is one that does not specify a party to which the order must be delivered. It is always either a market order or a marketable limit order to be filled at the best available price. A directed order is an order that must be delivered to a specific exch

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