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English definition of “open-cry auction”

open-cry auction

noun [C]     (also open-outcry auction) STOCK MARKET, FINANCE
a method of trading on a financial market in which people shout out their bids and offers, rather than trading online or using the phone : The exchange plans to partially replace its famous open-cry auction trading system.
(Definition of open-cry auction noun from the Cambridge Business English Dictionary © Cambridge University Press)
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