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Mid-Quote Cross

A form of cross in which two counterparties (a buyer and a seller) get a mid-quote fill price from a...

MOC Algorithm

A trading algorithm that targets the closing price, and hence the name “market-on-close (MOC) algorithm”. This algorithm allows electronic traders...

Market-On-Close Algo

A trading algorithm (algo) that targets the closing price, and hence the name “market-on-close (MOC) algo”. This algorithm allows electronic...

Minimum Quote Size

On the London Stock Exchange (LSE), it refers to the minimum number of shares in which market makers are registered...

Market Impact Cost

A component of execution costs; in turn, market impact cost consists of two components: bid-ask spread and price concession. It...

Spoofing

An illegal practice that involves placing a quote that would be canceled prior to its execution. The happens when a...

Strobing

A type of spoofing that is carried out by rapidly placing and canceling an order (the same order) in order...

Single-Stock Algorithm

An algorithm that is used, in electronic trading, to manage the cost and risk of a single stock. A single-stock...

Close Algo

An algo (algorithm) that seeks out filling and posting orders into the day’s close in order to secure a price...

Circular Trading

A trading (fraudulent trading scheme) that takes place among brokers in a bid to manipulate security prices for their own...