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ISO Designated IOC

It stands for immediate or cancel (IOC) intermarket sweep order (ISO); a market or limit order that is immediately executed,...

IOC ISO

It stands for immediate or cancel (IOC) intermarket sweep order (ISO); a market or limit order that is immediately executed,...

Broad-Based Market Index

An index that is composed of securities that represent the overall market. The index includes a sufficiently diverse set of...

CMO+PO

A contra midpoint only (CMO) that comes with “post-only” functionality which allows the order, similar to a midpoint peg post-only...

Contra Midpoint Only with Post Only

A contra midpoint only (CMO) that comes with “post-only” functionality which allows the order, similar to a midpoint peg post-only...

IPO Quote-Only Period

In relation to an initial public offering (IPO), specifically an IPO cross, it is a period that precedes the release...

CMO

It stands for contra midpoint only; a non-displayed order type that is priced at the midpoint between the best bid...

Contra Midpoint Only

A non-displayed order type that is priced at the midpoint between the best bid and the best offer (e.g., NBBO)....

Midpoint Pegging

Pegging an order with reference to the midpoint between the inside bid and the inside offer. For example, if the...

Primary Pegging

Pegging an order with reference to the inside quotation on the same side of the market. For the price of...