An order to buy or sell immediately at the best available price. It prioritizes execution over price.
Covered in: ETF trading-cost calculator
Related terms
Go deeper: books by Will Lee, CFA
ETF Market Structure Explained
For advisors, investors, and new team members: a jargon-light foundation in creation/redemption, intraday value, and common liquidity myths.
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Disclaimer
This material is provided for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security.
All views expressed are the author’s own and do not represent the views of any employer or affiliated organization.