market-if-touched

market-if-touched
( MIT)
A price order, below market if a buy or above market if a sell, that automatically becomes a market order if the specified price is reached. Bloomberg Financial Dictionary
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( MIT)An order which becomes a market order if a specified price is achieved. A buy MIT order is placed below the current market price; a sell MIT is placed above the current market price. Once the market hits the specified price, the order is then traded at the prevailing market price. An MIT order is generally used to open a position as opposed to closing one. It is in their relationship to the underlying price that MIT orders differ from stop orders. Dresdner Kleinwort Wasserstein financial glossary
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An order that automatically becomes a market order if the price is reached. An MIT order to buy becomes a limit order if and when the instrument trades at a specific or lower trigger price; an MIT order to sell becomes a limit order if and when the instrument trades at a specified or higher trigger price. Chicago Mercantile Exchange Glossary

Financial and business terms. 2012.

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  • market if touched — ( MIT)An order which becomes a market order if a specified price is achieved. A buy MIT order is placed below the current market price; a sell MIT is placed above the current market price. Once the market hits the specified price, the order is… …   Financial and business terms

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  • market if touched order — ( MIT) They are similar to stop orders in two ways: 1) They are activated when the price reaches the order level; 2) They become market orders once they are activated; however, MIT orders are used differently from stop orders. A buy MIT order is… …   Financial and business terms

  • market-if-touched (MIT) GLOBEX — An MIT order to buy becomes a market order if and when the instrument trades at a specific or lower trigger price. A sell MIT is placed above the market; a buy MIT is placed below the market. Chicago Mercantile Exchange Glossary …   Financial and business terms

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