(Profiles for Open Systems Internetworking Technologies) A set of voluntary standards published by the National Institute of Standards and Technology (NIST) for network equipment purchased by the U.S. government. It is the successor to GOSIP.
An electronic system launched in 1987 that matches institutional buy and sell orders for individual stocks and for portfolios of stocks. Trades are priced from the stock's primary market at the time the match is run, and matches take place at the midpoint of the best asking price and the best selling price. POSIT is a joint venture between Investment Technology Group and BARRA, a financial data provider.