market order

An order placed with a broker to buy or sell a security at whatever the price may be when the order is executed. It indicates that you want the immediate execution of an order for a stated number of shares at the next available price without any other restrictions. This means your order will seek execution once it is received by the market (as long as the security is trading). A market order is used when price is less important than quick order execution. Market orders are also often placed by investors who feel there is sufficient liquidity in a security to prevent a sudden drastic change in price.