AUCTION MARKET Definition

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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.

Learn new Accounting Terms

TOMBSTONE is a newspaper advertisement that contains the details of a bond issue or major loan, and the investment banks that have underwritten it.

ACCOUNTING CONCEPTS are the assumptions underlying the preparation of financial statements, i.e., the basic assumptions of going concern, accruals, consistency and prudence.

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