Island(redirected from island-like)
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An electronic network used to execute limit orders on the NYSE, NASDAQ, and American Stock Exchange, among others. The Island matches limit orders for execution; if a matching order is not available, an order is displayed on the Island until one is found.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A major electronic communications network that attempts to match investor orders to buy and sell NYSE, ASE, and Nasdaq National Market System and SmallCap securities. Orders that cannot be immediately matched are displayed as limit orders until matched, cancelled, or expiration. Only limit orders placed by subscribing broker-dealers are accepted by Island.
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.