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Finance Dictionary and Glossary of Investment Terms
Away from the Market
When the bid on an order is lower (or the ask price is higher) than the current market price for the security.
In context of general equities, out of line with the inside market at this time, such as when a bid on a limit order is lower or the offer price is higher than the current market price for the security; held by the specialist for later execution unless FOK. Antithesis of in-line.
On a limit order, a buy order which is lower than the current market price, or a sell order which is higher than the current market price. Such orders are held to be executed later, unless they are of the fill or kill type.