277 | 6 | Benchmark | | 104 | Benchmark | Market Model Typology (MMT) terminology: The "benchmark" price depends on a benchmark which has no current price but derived from a time series such as a VWAP. |
574 | 9 | SystematicInternalizer | General Purpose | 78 | Systematic Internalizer | |
625 | 9 | UnscheduledIntradayAuction | | 9 | Unscheduled intraday auction | An unscheduled intraday auction might be triggered by a circuit breaker. |
625 | 10 | OutOfMainSessionTrading | | 10 | Out of main session trading | In the context of Market Model Typology "Out of main session trading" refers to both before and after session, neither auction nor continuous trading. |
828 | 61 | GiveUpGiveInTrade | | 61 | Give-up Give-in trade | |
828 | 62 | DarkTrade | | 62 | Dark trade | A Market Model Typology dark trade might also come from a lit/hybrid book, when an aggressive lit order hits a resting dark order. |
828 | 63 | TechnicalTrade | | 63 | Technical trade | |
828 | 64 | Benchmark | | 64 | Benchmark | |
1024 | 3 | QuoteDrivenMarket | | 4 | Quote driven market | Examples for quote driven markets are market maker or specialist market models. |
1024 | 4 | DarkOrderBook | | 5 | Dark order book | |
1430 | B | CentralLimitOrderBook | | 6 | Central limit order book | |
1430 | Q | QuoteDrivenMarket | | 7 | Quote driven market | |
1430 | D | DarkOrderBook | | 8 | Dark order book | |