Which of the following best describes execution over cost orders?

Execution over cost orders surrender trader discretion to ensure that the priority is on executing the order rather than on the price at which it is executed. This means that the trader is willing to execute the order at potentially unfavorable prices if it means the order can be filled more quickly or in full. This strategy is typically used in situations where having the position filled is more critical than achieving a specific price, often in fast-moving markets or when dealing with illiquid securities.

The other choices do not accurately encapsulate the nature of execution over cost orders. For instance, while prioritizing price over speed may sound appealing, execution over cost specifically indicates a readiness to forego optimal pricing for the sake of faster execution. Similarly, retaining trader discretion would contradict the essence of execution over cost, as it implies that the trader would still have the ability to influence the price at which the order executes. The notion that these orders are always market orders is misleading; while they often involve market orders, they can encompass other order types as well.