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

Taken from our Series 24 Online Guide

Non-Directed, Directed, and Preferenced Orders

A non-directed order is one that does not specify a specific party to which the order must be delivered. As a liability order, it must be a market order or a marketable limit order to be filled at the best available price. A directed order is an order to be delivered to a specified quote or order for exe

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