Designated Order Turnaround

Designated Order Turnaround

A computerized order-entry system on the New York Stock Exchange that bypasses brokers and automatically executes orders at the best available price through a specialist on the trading floor. It is used predominantly for small and odd-lot orders. See also: SOES.

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Designated Order Turnaround (DOT)

An electronic system on the New York Stock Exchange that channels smaller orders directly from a member firm to the specialist post on the exchange floor. The system speeds the execution of orders and allows increased volume on the floor by bypassing commission brokers.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.