open outcry

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 futures options contracts to assure arms-length transactions. This method also assures the buyer and seller that the best available price is obtained. The CENTER ONLINE Futures Glossary
————
The method of trading that the CFTC requires in the exchange trading pits whereby all trades are made with verbal bids and offers.In open outcry, only the highest Bid and lowest Offer prices can compete (that is, be shouted, accompanied by hand signals, by the floor brokers and floor traders) on the trading floor at any given moment. Chicago Mercantile Exchange Glossary
————
A trading system in which members trade openly and verbally on a trading floor by 'crying' out their prices in a designated area normally known as a pit. Open outcry is the predominant method of trading used on derivatives exchanges, although such exchanges sometimes also use screen based trading systems. Dresdner Kleinwort Wasserstein financial glossary

* * *

open outcry ˌopen ˈoutcry noun [uncountable]
FINANCE when trading on a financial market takes place directly between dealers on a trading floor, rather than by using computers and the telephone:

• While electronic trading is cheaper, supporters of open outcry say it offers better liquidity.

* * *

   An open-outcry market is one where buyers and sellers are brought together on a trading floor and cry out bids and offers to each other. In theory all buyers and sellers should be able to hear all the current bids and offers at all times.

* * *

open outcry UK US noun [U] STOCK MARKET, FINANCE
a method of trading on a financial market in which people shout out their bids and offers, rather than trading using the phone or online: »

Dealers conduct their business via display screens linked to a central computer rather than by open outcry on a trading floor.

»

open-outcry dealing/trading

»

an open-outcry exchange/system/trader

See also OPEN-CRY AUCTION(Cf. ↑open-cry auction)

Financial and business terms. 2012.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Open outcry — Until 2009[1], trades on the floor of the New York Stock Exchange always involved a face to face interaction. There is one podium/desk on the trading floor for each of the exchange s three thousand or so stocks …   Wikipedia

  • Open Outcry — A vanishing method of communicating on a stock, commodity or futures exchange that involves verbal bids and offers as well as hand signals to convey trading information in the trading pits. Trading pits are the parts of trading floors where… …   Investment dictionary

  • open outcry pit — UK US noun [C] STOCK MARKET, FINANCE ► the area of floor in a financial market where people shout out their bids and offers, rather than trading over the telephone or online: »The majority of trade is done through open outcry pits with dealers… …   Financial and business terms

  • Open outcry trading — Der Präsenzhandel, Parketthandel oder Criée Handel (franz.: criée bedeutet Zuruf) ist eine Form der Kursbildung an Börsen. Gelegentlich werden auch die Bezeichnungen Ringhandel, Zurufhandel oder der englische Ausdruck open outcry trading… …   Deutsch Wikipedia

  • open outcry — noun A trading method whereby traders gather in person, often in a pit, and call out to all their desire to buy or sell a quantity at a given price, transactions being consummated when two parties can agree on a price. Most frequently used in… …   Wiktionary

  • Open-outcry — The method of trading used at futures exchanges, typically involving calling out the specific details of a buy or sell order, so that the information is available to all traders. The New York Times Financial Glossary …   Financial and business terms

  • open-outcry — The method of trading used at futures exchanges, typically involving calling out the specific details of a buy or sell order, so that the information is available to all traders. Bloomberg Financial Dictionary A public auction method of trading… …   Financial and business terms

  • open outcry — noun a system of financial trading in which dealers shout their bids and contracts aloud …   English new terms dictionary

  • open outcry — Quoting prices, making offers, bids, and acceptances, and concluding transactions by word of mouth in a financial market, usually in a trading pit See also callover; double auction …   Big dictionary of business and management

  • open outcry — …   Useful english dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”