open outcry

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Open Outcry

A system of trading on an exchange in which members stand on the trading floor and make orders to each other by crying aloud. Some open outcry systems have developed special sign languages so they can make and fill orders without needing to be heard over the noise on the trading floor. All exchanges were originally open outcry, but many have gradually shifted toward electronic trading.

open outcry

A public auction in which trading is conducted by calling out bids and offers. Open outcry retains its popularity on futures and options exchanges such as the Chicago Board of Trade and the New York Board of Trade despite the introduction of electronic trading systems. Some traders contend that open outcry offers better liquidity with the chance to obtain a better price. Compare auction market, dealer market.

Open outcry.

When exchange-based commodities traders shout out their buy and sell orders or use a combination of words and hand signals to negotiate an order, it's known as open outcry.

When someone who shouts an offer to buy and someone who shouts an order to sell name the same price, a deal is struck, and the trade is recorded. Open outcry is one type of auction.

References in classic literature ?
A disproportionate amount of the outcry had the flavour of imprecation--had, indeed a strong flavour of riot.
Major Schneider had made no outcry for the very excellent reason that his wind was shut off.
If he is not on board, Miss Strong, he was thrown overboard--and the fact that you heard no outcry would lead to the assumption that he was dead before he left the ship's deck--murdered.
Its noise and outcry warned him of its presence, while he ran alone, velvet-footed, silently, a moving shadow among the trees after the manner of his father and mother before him.
They heard the outcry below, and thrust their heads out of the window.
You remember the outcry over the withdrawal of our Mediterranean Fleet?
All this time Alan would not leave me though I often pressed him, and indeed his foolhardiness in staying was a common subject of outcry with the two or three friends that were let into the secret.
He read the leading article, in which it was maintained that it was quite senseless in our day to raise an outcry that radicalism was threatening to swallow up all conservative elements, and that the government ought to take measures to crush the revolutionary hydra; that, on the contrary, "in our opinion the danger lies not in that fantastic revolutionary hydra, but in the obstinacy of traditionalism clogging progress," etc.
The Doctor was of course absent, and the outcry was no more than the wild yells, which were raised in the first burst of savage disappointment.
She had long listened anxiously to the suspicious sounds, which approached the rock across the naked waste, nor had the sudden outcry been unheard by the unwearied sentinels of the rock.
Meanwhile, and in the midst of all the roar and outcry, those who were nearest to the pile, heaped up again the burning fragments that came toppling down, and raked the fire about the door, which, although a sheet of flame, was still a door fast locked and barred, and kept them out.
Nor were they alone affected by the outcry from within the prison.