Just call us Bond. Amortized bond.
Over 700 finance terms, Shmooped to perfection.
An order to happen at the close of the market and generally at the closing price. If Big Mac prices changed every minute, and you ordered one at the close (midnight in most McDonalds), the burger flippers' clerk would scream your name at 11:59. Whatever the price for BigMacs was at that moment is the price you would be charged.