Even so, some think it may revolutionise swap trading, by further narrowing bid-offer spreads.
And prices that are being quoted are extremely wide in terms of bid and offer spread.
He also noted that he could influence those bid and offer prices himself with very small orders.
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Prosper, another such venture, operates competitive auctions in which lenders bid to offer borrowers the lowest interest rates.
It never displays a bid or offer but uses a complicated pattern that is employed in dark pools, ECNs and exchanges.
Funds with the highest costs produce the lowest returns, as client money is absorbed in charges and bid-offer spreads.
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The NBBO system requires trades to be executed at the best bid or offer possible, whatever exchange that might be on.
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There are certain truths about the markets that have stood the test of time since the first bid and offer were posted.
ISE's system will match orders at the midpoint of the National Best Bid and Offer, which is the current quote system traders use to price buy and sell orders.
When the NYSE gets deluged, Hunsader says, their quote feed to the Consolidated Quote System (CQS), which is used as part of the National Best Bid and Offer (NBBO) system, gets delayed.
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When the exchange is not on the national best bid and offer (NBBO), the mechanism here at the CBOE will flash that order to participants in the marketplace and allow those participants to step up to the NBBO.
In short he noted that the spread betting companies offered contracts for differences (not unlike an option but a gambling contract, not an option itself) based upon the best bid and offer prices on the London Stock Exchange.
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If computerized traders jump in front of the other shoppers (or, to be more technical, jump in front of a best bid and offer, a BBO), and there is an eighth or even a sixteenth of a dollar until the next price point, the jumpers run some risks.
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Predictably, short-seller advocacy groups lamented the toughness and cost burdens of the new regulations, under which a trader wanting to short a particular stock has to find a price above the prevailing national best bid and offer price if the stock has already fallen 10% or more from the previous trading session.
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They have to commit to a minimum trading volume, and a maximum margin between bid- and offer- prices.
What Mr Flowers brought to Long-Term Credit, apart from a bid-topping offer, was a perspective drawn from a particular kind of background.
The next year, Advantage Partners made a tender offer bid and acquired all outstanding shares for JPY 250 billion, of which JPY 170 billion was financing provided by syndicate whose members included Lonestar, Shinsei Bank, and Credit Agricole.
If the bid proposal becomes a formal offer, it looks unlikely that Sanofi will have to face a higher counter-bid.
Mr Morton told BBC London the bid was his final offer as any higher sum would not be financially viable.
The bid-to-offer ratio which is a sign of demand, was a strong 3.05 times, versus 2.81 times at the last four auctions.
U.K. rules on takeovers prevent Nasdaq from buying more than 29.9% of the LSE in the next six months (since Nasdaq has previously bid and withdrawn its offer).
Avon shares fell 49 cents, or 2.1%, to 23.03 after the company reiterated its opposition to fragrance company Coty's buyout bid, saying the offer undervalues the door-to-door beauty company.
The Best Buy Board of Directors does not appear to have rushed to respond to the bid, but did offer a due diligence plan to Mr. Schulze on August 17, which he declined.
Warner suggested that the Spurs and AEG bid would look to offer something to athletics by either adding a "small" amount of seating to the warm-up track or upgrading an existing facility elsewhere, both options he described as "very inferior".
He discovered that there were three marketmakers on XCIT's bid and two on the offer.
The Federation of Small Business said his call to force firms who wanted to bid for public contracts to offer apprenticeships would harm enterprise.
However, Mr Stitzer made no reference to Hershey making a possible bid to rival Kraft's offer.
However, the Bank of Scotland did not offer to up its bid or make any other peace offering, he added.
New York's 2012 Olympic bid depends on the Jets' offer being accepted.
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