Definitions for open outcry
open out·c·ry

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1. open outcrynoun

   A trading method whereby traders gather in person, often in a pit, and call out to all their desire to buy or sell a quantity at a given price, transactions being consummated when two parties can agree on a price. Most frequently used in securities markets.

WikipediaRate this definition:0.0 / 0 votes

1. Open outcry

   Open outcry is a method of communication between professionals on a stock exchange or futures exchange, typically on a trading floor. It involves shouting and the use of hand signals to transfer information primarily about buy and sell orders. The part of the trading floor where this takes place is called a pit. In an open outcry auction, bids and offers must be made out in the open market, giving all participants a chance to compete for the order with the best price. New bids or offers would be made if better than previous pricing for efficient price discovery. Exchanges also value positions marked to these public market prices on a daily basis. In contrast, over-the-counter markets are where bids and offers are negotiated privately between principals. Since the development of the stock exchange in the 17th century in Amsterdam, open outcry was the main method used to communicate among traders. This started changing in the latter half of the 20th century, first through the use of telephone trading, and then starting in the 1980s with electronic trading systems. As of 2021, a few exchanges still had floor trading using open outcry. The supporters of electronic trading claim that it is faster, cheaper, more efficient for users, and less prone to manipulation by market makers and broker/dealers. However, many traders still advocate for the open outcry system on the basis that the physical contact allows traders to speculate as to a buyer/seller's motives or intentions and adjust their positions accordingly. As of 2010, most stocks and futures contracts were no longer traded using open outcry due to the lower cost of the aforementioned technological advances. As of 2017, open outcry in the United States was very limited, such as in a much more stream-lined form at the Chicago Board of Trade owned by the CME Group.

WikidataRate this definition:0.0 / 0 votes

1. Open outcry

   Open outcry is the name of a method of communication between professionals on a stock exchange or futures exchange. It involves shouting and the use of hand signals to transfer information primarily about buy and sell orders. The part of the trading floor where this takes place is called a pit. In an open outcry auction, bids and offers must be made out in the open market giving all participants a chance to compete for the order with the best price. New bids or offers would be made if better than previous pricing for efficient price discovery. Exchanges also value positions marked to these public market prices on a daily basis. In contrast, over-the-counter markets are where bids and offers are negotiated privately between principals. Examples of markets which use this system in the United States are the New York Mercantile Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and the Chicago Board Options Exchange. In the United Kingdom, the London Metal Exchange still makes use of open outcry. The open outcry system is being replaced by electronic trading systems. The supporters of electronic trading claim that they are faster, cheaper, more efficient for users, and less prone to manipulation by market makers and broker/dealers. However, many traders advocate for the open outcry system on the basis that the physical contact allows traders to speculate as to a buyer/seller's motives or intentions and adjust their positions accordingly. Today, most stocks and futures contracts are no longer traded using open outcry due to the lower cost of the aforementioned technological advances.

How to pronounce open outcry?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say open outcry in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of open outcry in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of open outcry in Pythagorean Numerology is: 8

Examples of open outcry in a Sentence

1. Glenn Hollander:

   There's lot of expertise and a lot of history that is going to be lost, a lot of understanding of why the market is doing something, i think open-outcry died because as electronics came in the people who were afraid of them didn't embrace them. And pit traders just got swept away like a tsunami.

2. Braden Perry:

   It really comes down to the numbers of people who are trading still in the open-outcry system.

3. Glenn Hollander:

   There’s lot of expertise and a lot of history that is going to be lost, a lot of understanding of why the market is doing something, i think open-outcry died because as electronics came in the people who were afraid of them didn’t embrace them. And pit traders just got swept away like a tsunami.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Open_Outcry
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Open_Outcry
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=open outcry