This is simply an order placed by an insider to buy or sell shares according to the rules and regulations set out by the SEC. The importance of an open market order is that the insider is voluntarily buying or selling shares at or close to the market price.
Investment dictionary. Academic. 2012.
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open market value — In the context of property transactions, the best price that might reasonably be expected for property, or an interest in property, from an unconnected third party on a certain date. A valuer would normally base such a valuation on an average of… … Law dictionary
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