Meaning of “open-cry auction” in the English Dictionary

business-english dictionary

"open-cry auction" in Business English

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open-cry auctionnoun [ C ]

uk us 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” from the Cambridge Business English Dictionary © Cambridge University Press)