open outcry
A means for conducting a public auction of futures, options or stocks with traders vocalizing their bids and offers on the floor of an exchange. Before employing electronic systems, open outcry was originally used by all exchanges. The method continues to be used to trade forex futures on the IMM in Chicago.
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negotiated market
trading pit
Chicago Board Options Exchange (CBOE)
hybrid market
American Stock Exchange (AMEX or ASE)
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