Freedom given to the floor broker by an investor to use his judgment regarding the execution of an order.' Discretion' can be limited, as in the case of a limit order that gives the floor broker some distance from the stated limit price to use his judgment in executing the order. Discretion can also be unlimited, as in the case of a market-not-held order. See also: Market Not Held Order.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). discretion. Retrieved September 24, 2026, from http://smartdefine.org/discretion/definitions/1152150 |
| Chicago | Barry Goldsmith. 2010. "discretion" http://smartdefine.org/discretion/definitions/1152150 (accessed September 24, 2026). |
| Harvard | Barry Goldsmith 2010, discretion, Smart Define, viewed 24 September, 2026, <http://smartdefine.org/discretion/definitions/1152150>. |
| MLA | Barry Goldsmith. "discretion" 21 October 2010. Web. 24 September 2026. <http://smartdefine.org/discretion/definitions/1152150> |