SuperDot was the electronic system used by the
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...
to route
market order
An order is an instruction to buy or sell on a trading venue such as a stock market, bond market, commodity market, financial derivative market or cryptocurrency exchange. These instructions can be simple or complicated, and can be sent to either ...
s and
limit order
An order is an instruction to buy or sell on a trading venue such as a stock market, bond market, commodity market, financial derivative market or cryptocurrency exchange. These instructions can be simple or complicated, and can be sent to either ...
s from
investors
An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Type ...
or their
agents to a
specialist located on the floor of the exchange. SuperDot was the upgraded form of the previous electronic system used to route orders, known as the Designated Order Turnaround (DOT) system. Since 1976, most of the orders in NYSE had been transmitting electronically to specialists screens over the DOT or via the upgraded SuperDot. In 2009, SuperDOT was replaced by the new NYSE
Super Display Book system (SDBK) for processing orders. In 2012, Display Book was replaced by
Universal Trading Platform
Universal is the adjective for universe.
Universal may also refer to:
Companies
* NBCUniversal, a media and entertainment company
** Universal Animation Studios, an American Animation studio, and a subsidiary of NBCUniversal
** Universal TV, a ...
(UTP).
[http://traderupdates.nyse.com/2012/08/matching_engine_upgrade_univer.html NYSE press release]
The user, either an investor or a broker, used to enter the order into the system, which immediately reached the specialist to be executed. The users received a confirmation report of the transaction in real time, once the order was executed. Most individual investors never had direct access to the SuperDot system. However, they indirectly utilized the system through software or online services offered by brokerages that in turn placed the client orders into the SuperDot.
See also
*
Electronic communication network
An electronic communication network (ECN) is a type of computerized forum or network that facilitates the trading of financial products outside traditional stock exchanges. An ECN is generally an electronic system that widely disseminates orders e ...
*
Electronic trading
In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products c ...
References
{{Reflist
External links
Investopedia Definition
New York Stock Exchange
Former electronic trading platforms