market order

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n.
An order to buy or sell stocks or commodities at the prevailing market price.


order to buy or sell a security at the best available price. Most orders executed on the exchanges are market orders.

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An order to buy or sell a futures contract at the best available price upon entrance into the exchange for execution.

Investopedia Says:
This is identical to a market order in the securities markets. When an investor places an order at the market, he or she is willing to forgo price discrimination for speediness of entry to or exit from a futures contract.

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For those who are new to futures but want a solid understanding of them, this tutorial explains what futures contracts are, how they work and why investors use them. Futures Fundamentals
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For a list of words related to market order, see:
  • Securities - market order: instructions to buy or sell at current market price


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