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CATS (trading System)
CATS (Computer Assisted Trading System) was an automated exchange system developed by the Toronto Stock Exchange. It went live on November 18, 1977, with 90 stocks. The first trader to use the system was Ralph W. Varney of Jones Gable, who also served on the development committee. CATS was introduced, piloted and developed by Harold B. Hofmann, then the Vice President of Operations at the Toronto Stock Exchange. CATS was one of the first technologies allowing for a full automation of the price-setting process in a stock exchange. This technology was implemented in several other stock exchanges in the 1980s. In some cases, it was used as an assistance to open-outcry, but in others it allowed for a full dismantlement of the open-outcry institution. The Paris Bourse purchased this system in the early 1980s and implemented it as CAC ( Cotation Assistée en Continu). CATS handled the process of order matching and price setting through a " double auction" algorithm. It is credited for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toronto Stock Exchange
The Toronto Stock Exchange (TSX; ) is a stock exchange located in Toronto, Ontario, Canada. It is the List of stock exchanges, 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the EY Tower in Financial District, Toronto, Toronto's Financial District, the TSX is a wholly owned subsidiary of the TMX Group for the trading of senior equities. History Beginnings The Toronto Stock Exchange likely descended from the Association of Brokers, a group formed by Toronto businessmen on July 26, 1852. No records of the group's transactions have survived. It is however known that on October 25, 1861, twenty-four brokers gathered at the Masonic Hall to create and participate in the ''Toronto Stock Exchange''. Between 1852 and 1870, two other distinct, commodity-orientated, exchanges were founded : the ''Toronto Exchange'' in 1854 and the ''Toronto Stock and Mining Exchange'' in 1868. Initially the TSE had 13 listings but it gre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Outcry
Open outcry is a method of communication between professionals on a stock exchange or futures exchange, typically on a trading floor. It involves shouting and the use of Hand signaling (stock market), hand signals to transfer information primarily about buy and sell orders. floor trading hand signals The part of the trading floor where this takes place is called a ''pit''. In an open outcry auction, Bidding, bids and offers must be made out in the open market, giving all participants a chance to compete for the order with the best price. New bids or offers would be made if better than previous pricing for efficient price discovery. Exchanges also value positions marked to these public market prices on a daily basis. In contrast, Over-the-counter (finance), over-the-counter markets are where bids and offers are negotiated privately between principals. Since the development of the stock exchange in the 17th century in Amsterdam, open outcry was the main method used to co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paris Bourse
Euronext Paris, formerly known as the Paris Bourse (), is a regulated securities trading venue in France. It is Europe's second largest stock exchange by market capitalization, behind the London Stock Exchange, as of December 2023. As of 2022, the 795 companies listed had a combined market capitalization of over US$4.58 trillion. Since September 2000, the Paris Bourse has been part of Euronext, of which it was a co-founder together with the Amsterdam Stock Exchange and Brussels Stock Exchange. It was subsequently rebranded Euronext Paris. History The Paris stock market started taking shape in the early 18th century, and first acquired prominence with trading of John Law's Company from 1717 to 1721. In 1724, a government decree gave it its first permanent regulation and is occasionally though dubiously taken as the market's starting point. From the second half of the 19th century, official stock markets in Paris were operated by the ''Compagnie des agents de change'', dire ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cotation Assistée En Continu
Cotation Assistée en Continu (CAC) was an electronic trading system used at the Paris Bourse, the French stock exchange, in the 1980s and 1990s. History It was introduced in 1986 for trading less liquid equities, and in 1989 it was operational for all listed stocks. The acronym is also used to refer to the CAC 40, a stock index provided by the Paris Bourse. Curiously, the acronym also fits the name of the early Parisian stockbrokers' association, the "Compagnie des Agents de Change". The CAC system was a version of an earlier system developed by the Toronto Stock Exchange in the mid-1970s: CATS (Computer Assisted Trading System). In the early 1990s, the Paris Bourse developed an upgraded technology known as ''Nouveau Système de Cotations, NSC (Nouveau Système de Cotation)'', which served as a technological platform for the Euronext initiative. The Paris Bourse became Euronext Paris in 2000. CAC, like CATS, was an order-driven market platform that handled the process of ord ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order Matching System
An order matching system or simply matching system is an electronic system that matches order (exchange), buy and sell orders for a stock market, commodity market or other financial exchanges. The order matching system is the core of all electronic Exchange (organized market), exchanges and are used to execute orders from participants in the exchange. Orders are usually entered by members of an exchange and executed by a central system that belongs to the exchange. The algorithm that is used to match orders varies from system to system and often involves rules around best execution. The order matching system and implied order system or Implication engine is often part of a larger electronic trading system which will usually include a settlement system and a central securities depository that are accessed by electronic trading platforms. These services may or may not be provided by the organisation that provides the order matching system. The matching algorithms decide the effic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Double Auction
A double auction is a process of buying and selling goods with multiple sellers and multiple buyers. Potential buyers submit their bids and potential sellers submit their ask prices to the market institution, and then the market institution chooses some price ''p'' that clears the market: all the sellers who asked less than ''p'' sell and all buyers who bid more than ''p'' buy at this price ''p''. Buyers and sellers that bid or ask for exactly ''p'' are also included. A common example of a double auction is stock exchange. As well as their direct interest, double auctions are reminiscent of Walrasian auction and have been used as a tool to study the determination of prices in ordinary markets. A double auction is also possible without any exchange of currency in barter trade. A barter double auction is an auction where every participant has a demand and an offer consisting of multiple attributes and no money is involved. For the mathematical modelling of satisfaction level Eucli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Algorithm
In mathematics and computer science, an algorithm () is a finite sequence of Rigour#Mathematics, mathematically rigorous instructions, typically used to solve a class of specific Computational problem, problems or to perform a computation. Algorithms are used as specifications for performing calculations and data processing. More advanced algorithms can use Conditional (computer programming), conditionals to divert the code execution through various routes (referred to as automated decision-making) and deduce valid inferences (referred to as automated reasoning). In contrast, a Heuristic (computer science), heuristic is an approach to solving problems without well-defined correct or optimal results.David A. Grossman, Ophir Frieder, ''Information Retrieval: Algorithms and Heuristics'', 2nd edition, 2004, For example, although social media recommender systems are commonly called "algorithms", they actually rely on heuristics as there is no truly "correct" recommendation. As an e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Automation
Automation describes a wide range of technologies that reduce human intervention in processes, mainly by predetermining decision criteria, subprocess relationships, and related actions, as well as embodying those predeterminations in machines. Automation has been achieved by various means including Mechanical system, mechanical, hydraulic, pneumatic, electrical, electronic devices, and computers, usually in combination. Complicated systems, such as modern Factory, factories, airplanes, and ships typically use combinations of all of these techniques. The benefit of automation includes labor savings, reducing waste, savings in electricity costs, savings in material costs, and improvements to quality, accuracy, and precision. Automation includes the use of various equipment and control systems such as machinery, processes in factories, boilers, and heat-treating ovens, switching on telephone networks, steering, Stabilizer (ship), stabilization of ships, aircraft and other applic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Exchanges In Canada
Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidation of assets (after discharge of all Seniority (financial), senior claims such as secured and unsecured debt), or Voting interest, voting power, often dividing these up in proportion to the number of like shares each stockholder owns. Not all stock is necessarily equal, as certain classes of stock may be issued, for example, without voting rights, with enhanced voting rights, or with a certain priority to receive profits or liquidation proceeds before or after other classes of Shareholder, shareholders. Stock can be bought and sold over-the-counter (finance), privately or on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Former Electronic Trading Platforms
A former is an object, such as a template, gauge or cutting die, which is used to form something such as a boat's hull. Typically, a former gives shape to a structure that may have complex curvature. A former may become an integral part of the finished structure, as in an aircraft fuselage, or it may be removable, being used in the construction process and then discarded or re-used. Aircraft formers Formers are used in the construction of aircraft fuselage, of which a typical fuselage has a series from the nose cone to the empennage, typically perpendicular to the longitudinal axis of the aircraft. The primary purpose of formers is to establish the shape of the fuselage and reduce the column length of stringers to prevent instability. Formers are typically attached to longerons, which support the skin of the aircraft. The "former-and-longeron" technique (also called stations and stringers) was adopted from boat construction, and was typical of light aircraft built until t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1977 Software
Events January * January 8 – 1977 Moscow bombings, Three bombs explode in Moscow within 37 minutes, killing seven. The bombings are attributed to an Armenian separatist group. * January 10 – Mount Nyiragongo erupts in eastern Zaire (now the Democratic Republic of the Congo). * January 17 – 49 marines from the and are killed as a result of a collision in Barcelona harbour, Spain. * January 18 ** Scientists identify a previously unknown Bacteria, bacterium as the cause of the mysterious Legionnaires' disease. ** Australia's worst Granville rail disaster, railway disaster at Granville, a suburb of Sydney, leaves 83 people dead. ** SFR Yugoslavia Prime minister Džemal Bijedić, his wife and 6 others are killed in a plane crash in Bosnia and Herzegovina. * January 19 – An Ejército del Aire CASA C-207 Azor, CASA C-207C Azor (registration T.7-15) plane crashes into the side of a mountain near Chiva, Valencia, Chiva, on approach to Valencia Airport in Spain, killing all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
