central limit order book


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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.
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Javelin SEF, LLC said that it has launched an anonymous Central Limit Order Book for Market Agreed Coupon swaps clearable on both LCH.
But whether Nasdaq, another organization or a "virtual" grassroots group creates the central limit order book remains to be seen, he notes.
Nearly 66% say a central limit order book is coming to the swaps market at the same time 90% conduct all their transactions by phone
EBS Market is the only central limit order book to offer meaningful liquidity in NDFs and is increasingly the source for reference rates in a number of core NDF currencies including Indian rupee and Korean won.
At launch, functionality will include a central limit order book, with request for quote following shortly afterward.
These include halving the headline equity market trade execution fee; the launch of three new trade platforms - Volume Match, a block trading service, Trade Match, which caters for ASX's existing product areas such as equities, and a streamlined parallel central limit order book, Pure Match, aimed at high frequency traders; an imminent upgrade to the futures trading platform; and plans to reduce latency to under 500 microseconds with its new ASX Trade platform, supplied by global exchange group Nasdaq OMX expected to launch in November 2010.
Launched in Asia in 2001, first in Japan under Instinet's Japanese PTS (Proprietary Trading System) License, CBX ASIA is a real-time, low-latency central limit order book with traditional price/time priority and rich order functionality.
Trad-X will launch a new central limit order book (CLOB) for EurexOTC cleared products on 21 February to coincide with the EMIR Frontloading date.
BGC's technology infrastructure includes fully-compliant execution methodologies such as anonymous central limit order book, name disclosed request for quote system, intra-day electronic auctions, indications of interest, and voice managed orders for blocks and non-blocks.
More than 900 of the most liquid stocks across 18 indices in 13 European markets are available for trading via Chi-X Europe's anonymous Central Limit Order Book, in addition to ETF trading.
EBS BrokerTec, ICAP's market-leading electronic foreign exchange (FX) and fixed income business, and Singapore Exchange (SGX), Asia s leading and trusted market infrastructure, today announced the signing of a definitive agreement to launch SGX listed FX block futures on EBS BrokerTec s FX central limit order book (CLOB), EBS Market, a primary venue for e-traded currencies.
Over the past three years, since passage of the Dodd-Frank Act, MarketAxess has expanded its functionality to offer a comprehensive range of trading protocols including request for quote/market (RFQ/RFM), click-to-trade and a central limit order book for CDS trading.

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