Markets & trading
A market order prioritises execution against available prices rather than setting a maximum purchase or minimum sale price. It is an instruction to trade, not a guarantee of the last quoted price.
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As seats sell, the next buyer takes the best remaining price rather than reserving one exact price. A large group may need several rows at progressively different prices.
Now put that into markets
A market buy consumes asks and a market sell consumes bids. Available depth, volatility and routing determine the average fill.
The order can execute in parts across price levels and venues. During fast or thin markets, the final price may differ materially from the quote seen before submission.
Review fill prices, timestamps, quantity and prevailing quote rather than only order status. Consider whether certainty of execution or control of price is the real priority.
Marketable does not mean immediate under every halt or venue condition, and no quoted price is reserved. The risk grows for large orders and illiquid instruments.
Takeaway
