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Discretionary

• Is an order which given a client gives to the broker. The discretion is in terms of price or time and not in terms of buy or sell, instrument or quantity.

 
 Embedded terms in definition
 Broker
Buy
Order
Sell
Time
 
 Referenced Terms
 Order: Is a set of instructions with the intent of executing a transaction. The following is a list of order types. See: All or None (AON) or All or Nothing, Buy on Close, Buy on Opening, Contingent, Discretionary, Non-Discretionary, Do Not Reduce (DNR) , Exchange for Physicals (EFP) , Fill or Kill (FOK) , Good Till Canceled (GTC) , Immediate or Cancel (IOC) , Limit (LMT) , Market, Market if Touched (MIT), Market on Close (MOC) , Market on Opening, Not Held, One Cancels the Other (OCO), Open Order, Sell on Close, Sell on Opening, Stop (STP), Stop Limit (STP LMT), and various combinations as with spreads, options, and other instruments.

 
 Related Terms
 Discretionary account
Discretionary cash flow
Non discretionary
Non discretionary account

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