| 单词 | order-driven market |
| 释义 | order-driven market An asset market where the role of intermediaries is matching buy and sell orders. In such a market orders to buy at given prices or below, and to sell at given prices or above, are accumulated until a set time, for example noon daily. A market clearing price is then worked out, and orders consistent with this price are executed. This is contrasted with a quote-driven market, where the role of intermediaries is to act as market-maker, offering to buy and sell at stated prices, up to some quantity limit, and transactions can take place at any time when the market is open. |
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