™On a quote of $49.95 bid and $50.05 ask, broker helps explain part of what can happen between submitting an order and receiving a fill.
Orders & Market Structure
Broker
A firm or person that handles securities transactions for customers, subject to applicable regulation.
Plain-English context
Why it matters
Market-structure language affects how an instruction reaches the market and the price or execution a trader may actually receive.
Assuming Broker has one universal interpretation without checking the source, rules, timeframe or methodology.
Use current definitions. Product terms, tax treatment and market rules can change. Confirm important details with official disclosures, regulators and regulated providers.