Jump to content

Order matching system

From Wikipedia, the free encyclopedia
This is an old revision of this page, as edited by PBS (talk | contribs) at 17:36, 9 November 2015 (PBS moved page Electronic trade matching to Order matching system over redirect: Common name, besides a trade does not exist until the orders are matched). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Electronic trade matching is a process whereby a computer system matches buy and sell orders for a security on a stock market or commodity market. Electronic trade matching was introduced in the early 1980s in the United States to supplement open outcry trading (for example the then Mid West Stock Exchange (now the Chicago Stock Exchange) launched the "MAX system, becoming one of the first stock exchanges to provide fully automated order execution" in 1982).[1][2] In modern trading, the trade matching system is part of a larger electronic trading system which also allows order entry at the user level and order execution at the exchange level.

The algorithm that is used to match orders varies from system to system.[3]

See also

References

  1. ^ "History:Chicago Stock Exchange Historical Timeline". Retrieved November 2015. {{cite web}}: Check date values in: |accessdate= (help)
  2. ^ Commodity Exchange Act Cea: Issues Related to the Regulation of Electronic Trading by Thomas J. McCool, Cecile O. Trop 2000 ISBN 0-7567-0329-8 page 18
  3. ^ "Matching Algorithms". CME Group. Retrieved November 2015. {{cite web}}: Check date values in: |accessdate= (help); External link in |publisher= (help)
Retrieved from "https://en.wikipedia.org/w/index.php?title=Order_matching_system&oldid=689829240"