Orders to buy (or sell) in which the limit price is at or above (or below) the current market.
An order to buy or sell a security at the current price available in the market.
Orders of 10,000 shares (or greater) or for a market value of at least $200,000.
Liquidity providers work to improve executions relative to the National Best Bid or Offer (NBBO) by using capital to execute orders against their own account or by routing to Alternative Trading Systems (ATS), securities exchanges, or other market markers.
A securities exchange, an entity that has registered with the SEC, is a marketplace that facilitates the buying and selling of securities among market participants.
An Alternative Trading System (ATS) is an execution platform that brings together buyers and sellers of securities, similar to how orders are matched on an exchange.