Open Outcry

This Issue in United States

Concept of Open Outcry in Futures Trading

In this context of financial law, the following is a definition of Open Outcry: A method of public auction, common to most U.S. commodity exchanges during the 20th century, where trading occurs on a trading floor and traders may bid and offer simultaneously either for their own accounts or for the accounts of customers. Transactions may take place simultaneously at different places in the trading pit or ring. At most exchanges open outcry has been replaced or largely replaced by electronic trading platforms. See Specialist System.