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PriorityUsed for listed equity securities. System used in an auction market, in which the first bid or offer price is executed before other bid and offer prices, even if subsequent orders are larger. NYSE rules stipulate that the bid made first should be executed first, or if two bids came in at once, the bid for the large number of shares receives "priority." The bid not executed is then turned to the broker, who informs the customer that the trade was not completed because there was stock ahead. See: Standing.Priority Similar MatchesAbsolute priorityAbsolute priorityRule in bankruptcy proceedings requiring senior creditors to be paid in full before junior creditors receive any payment. Rule of Absolute PriorityRule of Absolute PriorityA condition of bankruptcy proceedings under which junior (subordinated) claim holders can receive no payment until senior (priority) claim holders are paid in full. |
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