Glossary entry
An order is an instruction to buy or sell an instrument according to specified terms. Common details include direction, quantity, order type, price conditions, and duration. Submission, acceptance, execution, and settlement are distinct stages; an accepted order may remain open, fill partly, or expire without producing a completed transaction.
Illustrative example
An investor instructs a broker to buy 40 shares at no more than 25 each today. Price, quantity, direction, and duration are all specified.
What to consider
Review every field before submission. A confirmation that an order was received is different from confirmation that a trade occurred.
General information, not a personal recommendation. Product availability, rights, and obligations are determined by the relevant provider, jurisdiction, and approved agreements.