Open-outcry

Open-outcry

The method of trading used at futures exchanges, typically involving calling out the specific details of a buy or sell order, so that the information is available to all traders.

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.
References in periodicals archive ?
The 142-year-old LME's ring is the last open-outcry trading venue in Europe, with other exchanges shifting to electronic trading over recent years.
Three-month copper on the London Metal Exchange added 0.6 percent to $6,448 a tonne in closing open-outcry activity, having shed 1.1 percent on Tuesday.
The Big Bang was the phrase coined to describe the deregulation of financial markets and change from open-outcry trading to electronic trading.
The London Metal Exchange (LME) today finds itself operating in "business continuity" mode with open-outcry ring trading migrating east of London to the disaster recovery site in Chelmsford.
The shift from the pit/floor trading or open-outcry system -- where traders shout their bids aloud -- to the new e-TRADE platform will occur in phases, and it is expected to take approximately a year to fully transition.
This article explores the relationship between bodily rhythms and market rhythms in two distinctly different financial market configurations, namely the open-outcry pit (prevalent especially in the early 20th century) and present-day high-frequency trading.
Open-outcry trading hours for CME Livestock futures and options products will not be impacted by this adjustment to CME Globex trading hours.
When the open-outcry trading closed on Friday, three-month copper was up 1.1 per cent from the day's $7,094 per metric tonne.
Each model is used as a baseline for comparing volatility on WASDE-release days and includes month dummy variables, hour dummy variables, dummy variables for the first three minutes of open-outcry trading and open interest (O.I.) where applicable.
Currently, the markets are open some 13 hours via the Globex/electronic trade and another four hours via open-outcry trading.
It operates London's last open-outcry transactions through a six-metre-wide (20-foot) ring in which traders shout out orders.
The contracts will be listed for electronic trading on CME Globex, open-outcry and over-the-counter clearing on CME ClearPort.