Philadelphia Stock Exchange Unveils Auto-X, Quote Systems
THIS WEEK'S LEAD STORIES
The Philadelphia Stock Exchange has developed an Automatic Execution (Auto-X) system for market and marketable limit orders of up to ten contracts and an Autoquote system for pricing options. The systems will be used on PHLX's equity options floor as the exchange vies for market share in the competitive climate of multiply listed options (TST, May 7).
The new system was designed by the PHLX technical team to either automatically execute an order immediately at the advertised price or give the
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