A form that is filled out by an account representative in which the instructions associated with a transaction (order).
For example, an order ticket for a market order may convey the following instructions:
Buy 100 shares of XYZ at the market.
A limit order may communicate the following instructions:
Buy 100 shares of XYZ at 24, All or None.
The all or none (AON) contingency instructions stipulate that the order should be executed only if it can be filled in its entirety.
In general, order tickets provide details on:
- order essentials (e.g., security, symbol, number of securities, type of trading- sell or buy, etc.)
- order type and triggers (market, market if touched, limit, limit if touched, stop, stop limit, etc.)
- contingencies and time in force: good till cancelled, good for day, fill or kill, all or none, market on open, market on close, etc.
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