computer-assisted execution system

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Computer-Assisted Execution System

A computerized order-entry system that sends buy or sell orders to market makers for over-the-counter trades.

computer-assisted execution system (CAES)

A system for the automatic execution of broker-dealer limit and market orders by market makers in the over-the-counter market. Broker-dealers may designate a particular market maker or may have the order automatically routed to the market maker offering the best price.
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