Order Under Regulation ATS is a current Regulation ATS defined term. This guide preserves the rule-specific meaning and boundary instead of replacing it with informal market shorthand.
ReviewedEvidence1 sourceSectionPhrases & Idioms
Quick answer
Regulation ATS uses “order” for a firm indication of willingness to buy or sell a security, including several expressly listed order and quotation forms.
Key details
Canonical FormOrder
Core MeaningUnder 17 CFR § 242.300(e), order means a firm indication of willingness to buy or sell a security as principal or agent, including bid or offer quotations, market orders, limit orders, and other priced orders.
Further guidance
History Boundary
This page reflects the current reviewed Regulation ATS definition and should be rechecked if 17 CFR § 242.300 changes.
Meaning
Under 17 CFR § 242.300(e), order means a firm indication of willingness to buy or sell a security as principal or agent, including bid or offer quotations, market orders, limit orders, and other priced orders.
Usage Boundary
This is the rule-specific definition; casual uses of “order” outside the Regulation ATS framework may be broader or different.
Sources and evidence
Sources are shown with the role they play in this guide. Historical or style-sensitive claims are kept within the evidence boundary described above.
17 CFR § 242.300 — Definitions↗ (opens in a new tab)Legal Information Institute, Cornell Law School · Current e-CFR mirror of Regulation ATS definitions, including the operative definition of alternative trading system incorporated by Regulation NMS.
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