central limit order book

Also found in: Encyclopedia, Wikipedia.

Central Limit Order Book

A proposed database for all limit orders received by specialists and market makers throughout the United States. Such a system would allow limit orders to be fulfilled immediately or later, depending on the nature of the order, on any American exchange. The SEC proposed the establishment of CLOB, but it never occurred because most exchanges believe that such as a database would cause them to lose trading volume.

central limit order book (CLOB)

A central system that contains securities limit orders received from specialists and market makers. Such a system consolidates limit orders in a central location and bridges the gap in establishing a national market system. A hard CLOB executes orders immediately; a soft CLOB provides data to facilitate trading but does not include automatic executions. Establishment of a CLOB has generally been opposed by securities exchanges because they would stand to lose significant volume to such a system.
Mentioned in ?
References in classic literature ?
Childers, stroking his face again, and repeating his look, 'it would be very fortunate and well-timed; very fortunate and well- timed.
Childers politely betook himself, with his equestrian walk, to the landing outside the door, and there stood stroking his face, and softly whistling.
Childers, gradually insinuated themselves and him into the room.
3 April 2017 - UK-based electronic markets and post trade group NEX Group's (LSE: NXG) BrokerTec electronic fixed income trading platform has completed the transaction to acquire a majority stake in Italian electronic central limit order book platform e-MID SIM SpA (e-MID), the group said.
EBS Live Ultra data is derived from EBS Market, EBS BrokerTecs central limit order book.
BANKING AND CREDIT NEWS-December 9, 2014-Javelin SEF announces anonymous central limit order book for MAC swaps
Some of our algorithms may have to be rewritten which adds to costs, but if the main objective is to increase the quality of the central limit order book (CLOB), the cost of rewriting the algos could be a small price to pay," acknowledges Psomadelis.
In light of these judgments, I would caution against the implementation of a government mandate for any particular form of central limit order book.
And the resulting market - one that's fluid, fragmented and more fully automated - is crying out for a central limit order book, according to "ECN Proliferation: All Roads Lead to a Central Limit Order Book," a research note from TowerGroup, a Massachusetts-based consultancy.
About 15 to 20 billion ringgit worth of stock -- held by Singapore's Central Depository as trustee for Singapore-based investors who traded in Malaysian shares via the Stock Exchange of Singapore's Central Limit Order Book (CLOB) -- is barred from being traded on the KLSE, even after the September 30 deadline.
Although the buy side says they're not ready for what lies ahead, they are asking questions based on hypothetical scenarios covering clearing; costs; test trades; sourcing liquidity; alternative products, managing basis risk; accessing a swap executive facility (SEF);using a central limit order book (CLOB); and whether or not to use their Futures Commission Merchant (FCM) for execution.
Leveraging the underlying technology behind EBS Market, EBS Direct and BrokerTec Direct, the NGTS will enhance CFETS capability to offer central limit order book (CLOB) and disclosed trading models for FX spot, forwards and swaps and a disclosed trading model for cash bonds, to the onshore renminbi market, through a localised EBS BrokerTec Graphical User Interface (GUI).

Full browser ?