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The exchange plans to partially replace its famous open-cry auction trading system.
Financial and business terms. 2012.
auction — A common method of issuing gilts. Similar to a tender offer. In an auction, investors apply to buy the new gilts being issued, specifying the amount they wish to purchase and the price they are prepared to pay. The new gilts will be issued to… … Financial and business terms
open outcry — Method of public auction for making verbal bids and offers in the trading pits or rings of futures exchanges. Chicago Board of Trade glossary Oral bids and offers made in the trading rings, or pits. Open outcry is required for trading futures and … Financial and business terms
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