Definition: Freedom to make choices. Definition: [crh] Freedom given to the floor broker by an investor to use his judgment regarding the execution of an order. Discretion can be limited, as in the case of a limit order Definition: that gives the floor broker some distance from the stated limit price to use his judgment in executing the order. Discretion can also be unlimited, as in the case of a market-not-held order. See alsoDefinition: : Market Not Held Order.

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