A market (market setting) that provides voice brokerage and electronic brokerage services. It is an exchange that provides traders with access to both automated trading systems and traditional floor brokerage for transaction execution.
In hybrid markets, for a transaction that is arranged through, or executed with, a voice broker, a record of the transaction will be published on the exchange’s screen utilized for electronic brokerage in order to make it available to other market participants. If a client opted not to publish the transaction, an exchange will not post its on its electronic system.
Generally, “physical” exchanges (e.g., NYSE) are typical examples of hybrid markets.
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