Firm order的意思

"Firm order" is a term used in the context of financial markets, particularly in the stock market, to refer to a type of order to buy or sell securities. A firm order is an order that is guaranteed to be executed at its specified price or better. This means that if the market price is at or below the specified price for a buy order, or at or above the specified price for a sell order, the order will be executed immediately.

Firm orders are different from market orders, which are also guaranteed to be executed immediately but may not necessarily be executed at the best possible price. Market orders can be executed at a price that is worse than the current market price due to volatility or other factors.

Firm orders are typically used by investors who want to ensure that their order is executed at the best possible price without having to monitor the market constantly. They are often used for large trades, where the investor wants to ensure that the order is executed without any delays or price slippage.

In summary, a firm order is an order to buy or sell securities that is guaranteed to be executed at the specified price or better, providing the best possible execution for the investor.