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Open Order
An order to buy or sell a security that remains in effect until it is either canceled by the customer or executed.
Investopedia Commentary
Open orders commonly occur when investors place price restrictions on their buy and sell transactions. As market orders are filled instantaneously, investors who enter limit orders will typically have to wait before the price that they set as their limit is reached. These orders will remain open either for the duration determined by the customer or until they are filled.
Related Links
The Basics Of Order Entry
See also: Buy, Limit Order, Market Order, Open, Order, Security, Sell
