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Non-Display Order

A trading order that is entered by market participants via computerized market systems (screen trading) as a bid or offer...

Cloaked Order

A trading order that is entered by market participants via computerized market systems (screen trading) as a bid or offer...

Nondisplayed Exchange

An exchange (venue) in which offers to trade are not disclosed to the public. Orders can be invisibly transmitted (and...

Displayed Liquidity

A source of market liquidity that is visible to the broader market, and which reflects available trading volume (market depth)...

Nondisplayed Market

A market in which offers to trade are not disclosed to the public. Orders can be invisibly transmitted (and hence...

Reserve Order

A trading order (a type of limit order) that is only partly displayed to the market. In this sense, it consists of a...

Iceberg Order

A trading order (a type of limit order) that is only partly displayed to the market. In this sense, it consists of a...

Hidden Order

An order that is not revealed to the market, and hence it is invisible to the public. Instead, it is...