Which of the following is NOT a main type of order in trading?

Enhance your skills for the Evercore Sales and Trading Interview. Use flashcards and multiple choice questions with hints and explanations to prepare effectively. Get ready to excel in your interview!

In trading, the primary types of orders that traders use to buy or sell securities are market orders, limit orders, and stop-limit orders.

A market order is a request to buy or sell a security immediately at the current market price, while a limit order sets a specific price at which the trader is willing to buy or sell, ensuring they do not execute the trade at a less favorable price. A stop-limit order combines aspects of both; it becomes a limit order once a specified stop price is reached, giving traders more control over execution prices.

The term "interest rate order" does not represent a recognized or standard type of order in trading. Instead, it might refer to strategies or instruments related to interest rates, such as derivatives or fixed-income securities, but it does not fit into the main categories of orders that traders utilize when executing trades on a trading platform. Thus, this distinction makes it clear why the correct answer is the "interest rate order."

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