A computerized order-entry system that sends buy or sell orders for automatic execution, bypassing the floor broker or specialist. Computerized investing has historically been limited to institutional investors and traders, but small investors are beginning to use it more commonly. See also: ABS, ACAT, SOES, Ameritrade.
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Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.