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Glossary Term: DISCRETIONARY ACCOUNT

Definition(s) for DISCRETIONARY ACCOUNT:


1. ) refers to a brokerage account in which the customer permits the broker to act on the customer's behalf in buying and selling securities. The broker may decide upon securities, prices and timing -- subject to any limitations specified in the agreement.

2. ) An arrangement bywhich the holder of the account gives written power of attorney to person,often his broker, to make trading decisions. Also known as a controlled ormanaged account.

3. ) An account in which the customer gives the broker or someone else discretion to buy and sell securities or commodities including selection, timing, amount, and price to be paid or received.



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