What is the meaning of Market-if-touched (MIT)?

Market-if-touched (MIT) is a price order, below market if a buy or above market if a sell, that automatically becomes a market order if the specified price is reached.

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APABarry Goldsmith. (2010). market-if-touched (mit). Retrieved October 1, 2026, from http://smartdefine.org/market-if-touched_(mit)/definitions/1157887
ChicagoBarry Goldsmith. 2010. "market-if-touched (mit)" http://smartdefine.org/market-if-touched_(mit)/definitions/1157887 (accessed October 1, 2026).
HarvardBarry Goldsmith 2010, market-if-touched (mit), Smart Define, viewed 1 October, 2026, <http://smartdefine.org/market-if-touched_(mit)/definitions/1157887>.
MLABarry Goldsmith. "market-if-touched (mit)" 21 October 2010. Web. 1 October 2026. <http://smartdefine.org/market-if-touched_(mit)/definitions/1157887>