open outcry

(redirected from Outcry Trading)

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.

open outcry

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.

Open outcry.

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 ?
Open outcry trading will cease for one minute on four occasions as follows: 8:46 a.
Only a few dozen jobs were eliminated by the switch to trading via computers, which had been steadily ramping up over the past 10 years, and few people outside the commodities trading industry will notice, or be affected by, open outcry trading going the way of the hand-cranked automobile.
Second, NGFA recommends that part of such an emergency response plan should be that, in the event of a Globex outage, "open outcry trading will be suspended until Globex again becomes operational.
It has two, 35,000 s/f column-free open outcry trading floors with 37-foot-high ceilings, an asset CIM has coveted as it maintains a commitment to old-school verbal trading, according to Kevin Lennon, managing director Real Estate at CME Group.
From 16 July the NYMEX also launched the East Asia Index (ICIS Heren) Swap futures contract for open outcry trading, having received approval from the Commodity Futures Trading Commission (CFTC).
The New York Mercantile Exchange (Nymex) still has open outcry trading, but bigger volumes are generated electronically.
Friday New York time, and via open outcry trading from 9:00 a.
CME Group announces its trading floor migration is completed, combining all equity, foreign exchange, interest rate and commodity open outcry trading facilities at the Chicago Board of Trade building.
Pre-Big Bang in 1986, the LSE was an old-fashioned gentlemen's club with an open outcry trading floor.
The launch of an open outcry trading pit by the New York Mercantile Exchange (Nymex) in the City of London marks a rapid return for the floor traders, many of whom feared the activity had been lost following the closure of the International Petroleum Exchange's pit in April.
The IPE's decision on April 7 to scrap open outcry trading was a high-risk strategy in its battle to fend off competition from NYMEX.
The exchange has no plan to scrap the open outcry trading system of these products.