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Business Definition for: alternative order

Dictionary of Finance and Investment Terms

alternative order

order giving a broker a choice between two courses of action; also called an either-or order or a one cancels the other order. Such orders are either to buy or to sell, never both. Execution of one course automatically makes the other course inoperative. An example is a combination buy limit/buy stop order, wherein the buy limit is below the current market and the buy stop is above.

combination order
either-or order
one-cancels-the-other order

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