Intermarket Trading System


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Related to Intermarket Trading System: National Market System, Consolidated Quotation System

Intermarket Trading System (ITS)

Electronic communications network linking the trading floors of seven registered exchanges to permit trading among them in stocks listed on either the NYSE or AMEX and one or more regional exchanges. Through ITS, any broker or market maker on the floor of any participating exchange can reach other participants for an execution whenever the nationwide quote shows a better price available. A floor broker on the exchange can enter an ITS order to assure excecution of all of an offering or bid, instead of splitting it with competing brokers.

Intermarket Trading System

A computerized trading system allowing investors and brokers access to more than one stock exchange. That is, the ITS effectively lists securities of participating exchanges on each other's boards. This allows investors to find the best price available for securities. The Cincinnati Stock Exchange was the first major exchange to adopt the ITS. See also: NMS.

Intermarket Trading System (ITS)

An interconnection of security trading floors that allows brokers and market makers to trade securities in additional markets. The system is intended to allow customers to obtain the most favorable price available on any of the participating exchanges. See also National Securities Trading System.
References in periodicals archive ?
We are very excited to be able to provide this expanded access for our customers' listed orders on the Consolidated Quote System and the Intermarket Trading System," says Gerald D.
Weeden served on several market structure committees, including the Composite Tape Committee, Consolidated Quotation Committee, the Intermarket Trading System Committee and the SEC's National Advisory Board.
To bring full and fair competition to the listed market, the SEC has also stated that it is working with the Nasdaq Stock Market to provide ECNs access to the Intermarket Trading System and the Consolidated Quotation System.
Earlier this month, the PHLX began honoring equity markets quoted in increments of sixteenths on a limited basis while modifications were being made to the Intermarket Trading System (ITS).
The system will also be fully integrated into the National Market System (NMS) through the Intermarket Trading System.