automated order system

automated order system definition - finance
A computerized trading order-entry system that sends single-order entries directly to the appropriate specialist on the exchange floor. The New York Stock ExchangeÂ’s system is called Super DOT. The Philadelphia Stock Exchange uses PACE (Philadelphia Automated Communication and Execution System) and Autom (Automated Options Market). The NASDAQ stock market uses the Small Order Execution System (SOES), which automatically executes agency orders in NASDAQ SmallCap securities for 1,000 shares or less. Another system is Auto-Ex.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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