Meaning of "PARTICIPATE BUT DO NOT INITIATE" in English

"PARTICIPATE BUT DO NOT INITIATE"

Used for listed equity securities. "Participate in the side of the market indicated by the order , but do not initiate the interest that causes the trade to take place." This kind of order can cause one to "miss stock" because he is at the mercy of the player who does initiate the trade. See: market order go along , percentage order .

Campbell R. Harvey. Hypertextual finance English glossary.      Английский словарь гипертекстовых финансов.