Matched Bargain
A matched bargain involves a transaction where the sale of a specified quantity of stock is directly matched with a purchase of an equal quantity of the same stock.
Auction, quote-driven, order-driven, and matched-bargain market systems used in securities trading.
Auction, quote, and order-driven systems describe how venues organize orders, quotes, and trading interest to form prices. This branch helps readers distinguish open-outcry and auction markets from dealer quote systems, order-book systems, and matched-bargain arrangements.
Use these pages when the question is how a venue’s market model affects price discovery, displayed liquidity, dealer responsibility, queue priority, or execution evidence.
| Term | Use it for |
|---|---|
| Auction Market | Continuous order interaction and opening, closing, reopening, or periodic call auctions. |
| Outcry Market | Floor-based or voice auction market references. |
| Quote-Driven System | Dealer markets, firm and indicative quotes, RFQ distinctions, spreads, size, and inventory risk. |
| Matched Bargain | Matching buyers and sellers outside a continuous central limit order book. |
| SEAQ | Current LSE quotation service for specified fixed-interest securities and its historical equity-market role. |
| SETS | LSE electronic order-book matching, auctions, depth, partial fills, and execution evidence. |
Start with how the venue forms a price and converts interest into a trade.
| Market model | Price-forming interest | Execution mechanism | Primary review risk |
|---|---|---|---|
| Quote-driven | Dealer bid and offer quotes | Quote acceptance or negotiation under the protocol | Firmness, size, access, and dealer conflict |
| Continuous order book | Participant orders and executable quotes | Algorithmic matching under venue priority rules | Depth, queue position, order type, and market impact |
| Periodic auction | Orders accumulated for an uncrossing | Auction algorithm determines one execution price | Imbalance, phase timing, and uncrossing conditions |
| Matched bargain | Broker or intermediary locates both sides | Negotiated or arranged match | Sparse liquidity, valuation evidence, and reporting |
| Open outcry or voice | Spoken bids, offers, and broker interest | Auction or negotiation under market rules | Record completeness, timing, and participant access |
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
A matched bargain involves a transaction where the sale of a specified quantity of stock is directly matched with a purchase of an equal quantity of the same stock.
Outcry Market refers to a type of market in which prices are set by continuous verbal negotiation among participants, typically found on the trading floors of commodity exchanges.
A quote-driven market uses dealer bid and ask quotes instead of automatic order-book matching. Learn spreads, quote size, execution, inventory risk, and limitations.
SEAQ is the London Stock Exchange's non-electronically executable quotation service for specified fixed-interest securities. Learn its quotes, history, and risks.
SETS is the London Stock Exchange's flagship electronic order book. Learn matching, order priority, auctions, execution examples, clearing, and key risks.