AUCTION MARKET is a trading system in which buyers enter competitive bids and sellers enter competitive offers simultaneously. This, as opposed to the over-the-counter market, where trades are negotiated. Examples: the NYSE and the AMEX. It is sometimes called double auction market.
INVESTORS' COMPENSATION SCHEME is a statutory scheme operated by the UK Securities and Investment Board to give individual investors up to £48,000 protection if an authorized investment business collapses.
BILLINGS IN EXCESS OF COSTS see COST IN EXCESS OF BILLINGS.
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