Dictionary of Business Terms: elect
elect
choose a course of action. For example, someone who decides to incorporate a certain provision in a will elects to do so.
Dictionary of Finance and Investment Terms: elect
elect
In general: choose a course of action. Someone who decides to incorporate a certain provision in a will elects to do so.
Securities trading: make a conditional order into a market order. If a customer has received a guaranteed buy or sell price from a specialist on the floor of an exchange, the transaction is considered elected when that price is reached. If the guarantee is that a stock will be sold when it reaches 20, and a stop order is put at that price, the sale will be elected at 20.
