Order Matching System definition
Order Matching System means the electronic process of auto-matching of all ordersreceived in the ATS of the Exchange through any means: Any buy order is matched against outstanding sell orders with the lowest price until the buy order is completely executed. Any sell order is matched against outstanding buy orders with the highest price until the sell order is completely executed. Every executed order is transferred and reported to the Customer or Member and to the Clearing and Settlement Department of the Exchange. 2.44 “Participants” means a participant of Trade in the Exchange such as Members, Customers, Clearing and Settlement Department or any other person or entity involved or connection with the Trading in the Exchange. 2.45 “Pay-in” means making funds available to the Clearing and Settlement Department by the Members of the Exchange in accordance with the applicable settlement schedule notified by the Exchange. 2.46 “Pay-in Date” means the date and time prescribed by the Clearing and Settlement Department to the Members to perform their obligations by way of payment of funds to the Exchange. 2.47 “Pay-out “means release of funds by the Clearing and Settlement Department to the Member, who is entitled to receive to the extent of and upon their fulfilling their pay-in obligations, in accordance with the schedule prescribed by the Exchange. 2.48 “Pay-out Date” means the date and time prescribed by the Exchange that the Clearing and Settlement Department shall be required to release funds to the respective accounts of the Member. 2.49 ”Position” means the outstanding purchase or sell obligation of a member or customer in the Exchange. 2.50 “Prescribed Form or Format” means the form or format prescribed by the Exchange. 2.51 “Publication” means any publication or communication of information by the Exchange or under the authority of the Exchange in a medium or mode prescribed by the Exchange, which includes dissemination of information through the ATS. 2.52 “Quote” means a ‘BID’ Price or an ‘ASK’ Price of a Crypto currency or Contract in the Market. 2.53 “Rate” means the price per unit of a Crypto currency or Contract specified in the ContractSpecifications. 2.54 “Rules”, “Regulations”, ”Circulars” means any rules, regulations, circulars or set(s) of procedures framed by the Exchange for governing the business, organization and functioning of the Exchange and responsibilities of its Members and its Customers . 2.55 “Sell Order” means an order to sell a Crypto currency or Con...
Order Matching System means the electronic process of auto-matching of all orders received in the ATS of the Exchange through any means: Any buy order is matched against outstanding sell orders with the lowest price until the buy order is completely executed. Any sell order is matched against outstanding buy orders with the highest price until the sell order is completely executed. Every executed order is transferred and reported to the Customer or Member and to the Clearing and Settlement Department of the Exchange.
Examples of Order Matching System in a sentence
As soon as practicable after the date of this Placement Agreement or otherwise in accordance with the rules of the Stock Exchange, Citi may, in its sole discretion, cause the sale and purchase of the Placed Shares to be input into the Automatic Order Matching System as operated by the Stock Exchange.