What are Trade Types?
The Trade Types define the method of execution that was used by the buyer/seller. The type of execution can be seen through the "Type" column on the Options Order Flow table on the dashboard.
Listed below are the different types of executions that can be displayed:
LATE (AKA ADJ_LAST): A trade that was the result of late reporting due to sets consolidating last.
AUTO: A common occurrence, trades that are executed electronically.
ISO: A trade that is an Intermarket sweep order. ISO's are executed immediately and do not have to wait for the best bid and offer.
AUCT: A trade that was executed electronically but traded through a two-sided auction with an exposure period.
ISO/AUCT: A trade that is an Intermarket sweep order that executed electronically and traded through a two-sided auction with an exposure period.
CROSS: A trade that was executed electronically and traded through a two-sided crossing mechanism with no exposure period.
CROSS/ISO: A trade that is an Intermarket sweep order that executed electronically through a two-sided crossing mechanism with no exposure period.
FLR: A trade that is not executed electronically but rather executed on a trading floor.
COB: A multi-leg order trade that is executed electronically through a complex order book.
COB/AUCT: A multi-leg order trade that is executed electronically through a two-sided action that goes through an exposure period in a complex order book.
SPRD/CROSS: A multi-leg order trade that is executed electronically through a two-sided crossing mechanism that does not go through an exposure period.
SPRD/FLR: A multi-leg order trade that is not executed electronically but rather executed on a trading floor against other multi-leg orders executed on a trading floor.
SPRD/LEG/AUTO: A multi-leg order trade that executed electronically against single-leg orders/quotes.
SPRD/COB: A multi-leg order trade that executed electronically through a two-sided auction that goes through an exposure period in a complex order book.
SPRD/LEG/AUCT: A multi-leg order trade that executed electronically through a two-sided auction that goes through an exposure period and trades against single-leg orders/quotes.
SPRD/LEG/FLR: A multi-leg order trade that is not executed electronically but rather executed on a trading floor against single-leg orders/quotes.
TIED/AUTO: A multi-leg order trade that executed electronically through a complex order book.
SPRD/CROSS/TIED: A multi-leg order trade that was executed electronically through a two-sided crossing mechanism that does not go through an exposure period.
TIED/FLR: A multi-leg order trade that is not executed electronically but rather executed on a trading floor in a complex order book.
SPRD/TIED/AUTO: A multi-leg order trade that is executed electronically against single-order orders/quotes.
SPRD/TIED/AUCT: A multi-leg order trade that is executed electronically through a two-sided auction with an exposure period and trades against single-leg orders/quotes.
SPRD/TIED/FLR: A multi-leg order trade that is not executed electronically but rather executed on a trading floor against single-leg orders/quotes.
SPRD/FLR/PP: A multi-leg order trade proprietary product with at least 3 legs that are not executed electronically, price can be outside of the NBBO.
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