1. Reaching a better price than the price that was quoted at the time your order was placed. For a Sell order, this means getting a higher bid price. For a Buy order, this means getting a lower ask price.
  2. In the Transaction Cost Analysis, this is a performance measure that shows the number of basis points that your orders were filled better (or worse) than then National Best Bid (for sell orders) or Offer (for buy orders) at time each order was submitted.

Related Terms: