Intermarket sweep order
Intermarket sweep orders are limit orders that require they be executed in one specific market center even if another market center is publishing a better quote[1], disobeying the order-protection rule. They are typically used by institutional algorithmic investors and not by individual investors.[2] Intermarket sweep orders were thought to have played a role in the May 6, 2010 Flash Crash, but upon further examination it became evident that it was market orders and not ISO orders that caused the crash[3], as by definition an ISO has a price component and cannot cause a precipitous drop in price.
References
 | This finance-related article is a stub. You can help Wikipedia by expanding it. |
 | This business-related article is a stub. You can help Wikipedia by expanding it. |
 | This article about stock exchanges is a stub. You can help Wikipedia by expanding it. |