Over 700 finance terms, Shmooped to perfection.
A market order is a way a customer places an order for a security. That is, she calls her broker and says, "Gimme 1,000 shares of Coke at market." The broker looks at her screen and says, "Okay, KO is trading at $68.42. It's yours here." "Market order" means that it's the price that the market is giving that moment for the securities.