either-or order

either-or order definition - finance
A trade order given to a broker where the execution of one of the orders automatically cancels another order. One example is a buy-limit order that is executed only if the market price is below a certain price. It is combined with a buy-stop order that is executed only if the market price is above a certain price.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.