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Voice Broker

A broker/ agent who assumes the role of a transaction match maker- bringing market participants together, typically financial intermediaries, seeking...

Negative Slippage

A slippage that occurs when an order is executed at a less favorable (lower for a sell order, and higher...

Positive Slippage

A slippage that occurs when an order is executed at a more favorable (higher for a sell order, and lower...

Consolidated Best Bid and Offer

The consolidation of all national markets' best quotations (on both sides) as reflected in the calculation and dissemination of the...

Average Order Processing Speed

The average amount of time for completion of an order. It is the average time between order receipt and order...

Average Speed

The average amount of time for completion of an order. It is the average time between order receipt and order...

Consolidated Bid and Ask Spread

The consolidation of all national markets' bid-ask spread quotations as reflected in the calculation and dissemination of the highest firm...

RTS Instrument

An abbreviation for reduced tick spread instrument; instruments that trade, separately in their own markets, at a smaller tick (tick...

Short End of the Market

The immediate or nearby time horizon of a market for a specific investment/ security, commodity, etc. Generally speaking, it is...

Long End of the Market

The furthest or far-way time horizon of a market for a specific investment/ security, commodity, etc. Generally speaking, it is...