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Snap to Midpoint Order

An order in which the original order price is set based on the current bid-ask spread plus or minus an...

Midpoint Peg

A type of non-displayed order that is pegged to the average of the National Best Bid (NBB) and National Best...

M-Peg

It stands for midpoint peg; a type of non-displayed order that is pegged to the average of the National Best...

CMO+

An abbreviation for contra midpoint only plus; an order that is priced at the midpoint of the protected national best...

Contra Midpoint Only Plus

An order that is priced at the midpoint of the protected national best bid and offer (NBBO), while it is...

Non-Displayed Midpoint Order

An order (non-displayed order) that is pegged to execute at the floating mid-point of the national best bid and offer...

Dark Midpoint Order

An order (dark order) that is pegged to execute at the floating mid-point of the national best bid and offer...

Sensitive Market

A market condition that is characterized by magnified (more than proportional) price reactions to both positive and negative news. For...

Secondary Market Trend

A short-term change in the market direction (upward or downward) where price moves are confined to a primary market trend....

Dark Order

An order (limit order) that is not revealed to the public- i.e., it is not displayed in the market system....