Order matching system: Difference between revisions

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{{mergeto|Alternative Trading Systems|discuss=Talk:Alternative Trading Systems#Merger proposal|date=April 2012}}

'''Electronic trade matching''' is a process whereby a computer system matches buy and sell orders for a security on a [[stock market]] or [[commodities market]]. Electronic trade matching was introduced in the early 1990s in the United States to supplement [[open outcry]] trading.<ref>''Commodity Exchange Act Cea: Issues Related to the Regulation of Electronic Trading'' by Thomas J. McCool, Cecile O. Trop 2000 ISBN 0756703298 page 18</ref> In modern trading, the trade matching system is part of a larger [[electronic trading]] system which also allows order entry at the user level and and order execution at the exchange level.