A market system in which buyers bid against each other to establish the selling price of the item offered for sale. Some stock exchanges conduct live open outcry auctions on the floor of the exchange. Participants in these auctions include a specialist, who serves as the auctioneer, floor brokers who represent their clients, and registered traders who trade their own accounts. Live auctions are employed at some commodity and futures exchanges also.
Browse by Subjects
Chicago Board Options Exchange (CBOE)
Chicago Stock Exchange (CHX)
See All Related Terms »
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):