To most people, the open outcry
method for trading commodities seemed outrageously ridiculous, but it worked.
Under the open outcry
system, orders are taken over the telephone by brokers and transmitted to traders in the relevant pit.
We are committed to enhancing open outcry
by making it more efficient and competitive by using technology such as OBMS--we encourage other FCMs and brokers to take a look at what this system has to offer.
At 4pm on Friday, June 7, 1996, the final bell was rung for the close of business on the trading floor, ending 108 years of open outcry
trading and giving way to a new era of a high-tech, paperless exchange.
In this regard, the open outcry
of bids is a form of insurance against threats to the integrity of trading: An auction in real time makes active manipulation more difficult.
A combination of sealed bid and open outcry
auctions are part of the terms of sale.
Friday New York time, and via open outcry
trading from 9:00 a.
Sheldon Good & Company, under its joint venture with DJM, has announced an open outcry
auction for a portfolio estate sale of properties in New Jersey that includes three multi-unit residential properties.
Having received support from Oman, the DME is to adopt a Persian Gulf sour crude oil futures contract in an electronic trading platform, with an open outcry
INDIA -- At the end of March or early April, the world's first electronic bidding for tea will replace the age-old open outcry
system of buying and selling tea at auction centres across India, reports the Economic Times.
The sight of City traders in brightly-coloured jackets waving and screaming at the tops of their voices became a thing of the past yesterday as the Liffe market closed its last open outcry
pits in the Square Mile.
The IPE's decision on April 7 to scrap open outcry
trading was a high-risk strategy in its battle to fend off competition from NYMEX.