open outcry

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Open Outcry

A system of trading on an exchange in which members stand on the trading floor and make orders to each other by crying aloud. Some open outcry systems have developed special sign languages so they can make and fill orders without needing to be heard over the noise on the trading floor. All exchanges were originally open outcry, but many have gradually shifted toward electronic trading.

open outcry

A public auction in which trading is conducted by calling out bids and offers. Open outcry retains its popularity on futures and options exchanges such as the Chicago Board of Trade and the New York Board of Trade despite the introduction of electronic trading systems. Some traders contend that open outcry offers better liquidity with the chance to obtain a better price. Compare auction market, dealer market.

Open outcry.

When exchange-based commodities traders shout out their buy and sell orders or use a combination of words and hand signals to negotiate an order, it's known as open outcry.

When someone who shouts an offer to buy and someone who shouts an order to sell name the same price, a deal is struck, and the trade is recorded. Open outcry is one type of auction.

References in periodicals archive ?
Additionally, CME and CBOT open outcry markets will be migrated onto a single trading floor facility located at the CBOT building beginning in March 2008.
For natural gas and other energy commodities that trade on NYMEX, the markets are evolving, continuing actively with traditional open outcry markets, but expanding quickly into the online and computer arenas (overnight trading).
Trading on the open outcry markets, where traders do business on the exchange floor, was suspended but resumed at 4pm, said a IPE spokeswoman.
As a result of the acquisition, optionsXpress customers gained 24-hour access to 25 exchanges and over 300 futures products worldwide, in both electronic and open outcry markets.
We continue to believe that the combination of CME and CBOT provides unparalleled growth potential and positions the combined company as a premier global exchange offering the broadest product line, deepest liquidity, strong technology and clearing platforms and vibrant open outcry markets.
Commodity News for Tomorrow" is emailed to subscribers every afternoon after the CBOT's open outcry markets close for the day.
The newsletter is e-mailed to subscribers every afternoon -- after the Exchange's open outcry markets close for the day.
com -- complete with a revolutionary online order entry system for traditional open outcry markets and Globex2.
Chairman of Sun New Media, Bruno Wu, commented, "The potential of this endeavor can truly be appreciated by understanding the current system in China, where hundreds of open outcry markets exist for trading everything from jewelry to lighting fixtures or -- in sectors like media and real estate -- where buyers and sellers lack a central place to interact, compare products and discuss pricing.
These contracts will be available nearly 24 hours a day on the CME Globex(R) electronic trading platform and will trade side-by-side with the open outcry markets.
The handhelds have served as an important tool in merging the liquidity of electronic and open outcry markets, and have helped CME's floor traders better understand and leverage opportunities in the electronic marketplace.
The conversion to European-style options expiration, which will take place in an orderly fashion over several months as outlined below, applies to all equity index options contracts traded via CME's electronic or open outcry markets.