Outcry, Open financial definition of Outcry, Open
open outcry (redirected from Outcry, Open)
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.
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
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
The Taoiseach was forced to make the dramatic U-turn after huge public outcry, open
revolt from his own party and the loss of two Government TDs.