Quote Driven

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Related to quote-driven: Brokered market, Price Driven Market

Quote Driven

Describing an exchange where the bid-ask spread is determined by quotes given by dealers or market makers with the duty to maintain a liquid market. A quote driven market contrasts with an order driven market, where the bid-ask spread is determined by orders directly by investors. A quote driven market is also called a price driven market and is usually on an electronic exchange.
References in periodicals archive ?
Contrarily to the American stock market, a quote-driven market, the TSE is an order-driven market.
Quote-driven -- It would be a market supported by market makers, much like the dealer markets of a decade ago.
RTS is the other major exchange in Russia and the reference point for most international market participants, though the traditional quote-driven market has really functioned as a notice board for local brokers to advertise USD prices rather than a genuine source of liquidity.
Its quote-driven (market-maker) electronic trading platform currently trades a broad range of securities including full coverage of all London-listed shares like the FTSE 100, and unlisted shares quoted on the AIM and PLUS markets.