We are independent & ad-supported. We may earn a commission for purchases made through our links.

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What is a Designated Order Turnaround?

Malcolm Tatum
Updated May 17, 2024
Our promise to you
WiseGEEK is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At WiseGEEK, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

The Designated Order Turnaround is an efficient programmable system that makes it possible to route investment orders for specified options directly to a specialist located on the floor of the exchange. Doing so allows the order to bypass the usual practice of going through a broker before the order is executed by the exchange. Known around the New York Stock Exchange as the DOT, the Designated Order Turnaround effectively speeds up the placement of orders in an environment that is often extremely time sensitive.

The process of utilizing a Designated Order Turnaround involves the use of computer technology to relay the order. Making use of a network interface, it is possible for investors to submit orders that are immediately logged in the servers for the exchange. The orders can be executed and confirmation of the execution relayed to the investor in real time.

Along with investors, it is also possible for stock exchange agencies to make use of the Designated Order Turnaround system. The agency can receive an order by phone from a client and enter the order while still talking with the customer. Because the process of entering and executing the order is so efficient, it is possible for the agent to confirm with the client that the order is submitted and executed before the phone call is ended.

The obvious advantage of this approach is that the potential for delay is virtually eliminated. This means that investors can buy or sell before there is much chance of a price change on the unit price of any security that is listed with DOT. This type of real-time investment capability has made it possible for investors to reap huge benefits by having an order executed now rather than ten minutes or an hour later. Investors who focus on NYSE and other major stock exchange activity can appreciate the potential of this accelerated means of placing orders.

At the same time, this quick processing that is made possible by the Designated Order Turnaround places additional responsibility on the investor to be very sure that the order is really what he or she wishes to do. There is not a window of opportunity to call back a broker and possibly prevent the order from being executed. For this reason, any investor making use of the DOT should be very sure that the order is a good move.

A Designated Order Turnaround cannot be used with every investment option. The process is limited to securities that are listed with the DOT, and can handle such transactions as limit orders, basket trades and several other types of market orders.

WiseGEEK is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Malcolm Tatum
By Malcolm Tatum , Writer
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing to become a full-time freelance writer. He has contributed articles to a variety of print and online publications, including WiseGEEK, and his work has also been featured in poetry collections, devotional anthologies, and newspapers. When not writing, Malcolm enjoys collecting vinyl records, following minor league baseball, and cycling.

Discussion Comments

Malcolm Tatum

Malcolm Tatum


Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing...
Read more
WiseGEEK, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGEEK, in your inbox

Our latest articles, guides, and more, delivered daily.