D Quotes Nyse
D Quotes Nyse 7,5/10 4419 votes
NYSE Floor Brokers operate on an agency basis on behalf of institutional investors and broker-dealers, including market participants representing retail investor interest. Traditionally, Floor Brokers at the NYSE had substantial discretion and flexibility when representing customer orders manually on the trading floor. Today, NYSE blends modern electronic trading with human judgment and assessment, and provides electronic tools that enhance the ability of Floor Brokers to perform their traditional agency function in today’s fast-paced markets.
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One of those tools is the 'D Order,' which is short for Discretionary Order. D Orders use technology to replicate the Floor Broker’s traditional manual role to exercise discretion at what price he or she is willing to buy or sell in reaction to contra-side orders, both in continuous trading and in auctions. Because D Orders permit Floor Brokers to interact with contra-side orders at a range of prices, they offer additional flexibility over Market on Close orders (MOCs) and Limit on Close orders (LOCs) residing in the electronic order book.
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How D Orders Work
D Quotes Nyse Stocks
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