Order Driven

Order Driven

Describing an exchange where the bid-ask spread is determined by orders made by clients to brokers. An order driven market contrasts with a quote driven market, where the bid-ask spread is determined by quotes given by market makers.
References in periodicals archive ?
Accordingly, selected Requirements" (DUR) Professional Services Contracts, established for the duration of the contract term and compensation schedules with selected vendors prior vendors will be awarded Task Order driven "Depends Upon whereby an estimated maximum compensation limit will be adjusted by amendment, if necessary.
This IDIQ contract will be Task Order driven and Task Orders under the Unrestricted Suite will be issued on a Full and Open Competition Basis among all nine Awardees.
Thousands of order driven businesses with locations worldwide depend on JOBSCOPE.
CitiConnect for Securities provides an exceptional operational offering by combining execution in equities and collective investment schemes with our custody services through an order driven trade to settlement service.
Whilst PLUS gives us the national recognition and access to critical mass, the order driven systems used by investbx reduce the impact of market makers and removes the bid-offer spread.
Ioanid Rosu, University of Chicago, "Liquidity and Information in Order Driven Markets"
Comparative study of quote driven versus order driven markets have been analyzed.
RTS Realtime Systems Group (RTS), a leading independent software vendor (ISV), announced today that it now offers full connectivity to Instinet Chi-X(R) Limited, the first order driven, pan-European equity alternative trading system (ATS), which will be known as a Multilateral Trading Facility (MTF) under MiFID.
Allocation Trigger by Rule: Allows for Configurable allocation triggers; order driven allocations vs.
Mr Galligan added that the business was still mail order driven.
Structured as an Indefinite Delivery/Indefinite Quantity (IDIQ) task order driven contract, CIO-SP2i carries a $20 Billion ceiling with a five year period of performance.