References in periodicals archive ?
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.
Contrarily to the American stock market, a quote-driven market, the TSE is an order-driven market.
BOX 2 Order-driven versus quote-driven markets Derivatives trading may take place in "order-driven," "quote-driven," or "hybrid" trading environments.