Auction System

An exchange system in which bids and offers are continuously posted on the exchange during the trading day by its members.

拍卖系统

在交易日中，买入和卖出信息不间断地由成员刊登在交易所内的交换系统。

Negotiated Market

An exchange system in which principals and dealers negotiate with each other for the best price.

议价市场

委托人和交易商互相谈判取得最佳价格的交易系统。

Specialist

A member of a registered stock exchange whose job it is to maintain a fair and orderly market.

专业交易员

登记证券交易所的工作人员，其工作是维持公平和有序的市场。

Market Maker

A dealer whose job it is to maintain a fair and orderly market on the NASDAQ and OTC markets.

市场创造者

在NASDAQ和OTC市场上维持公平有序市场的交易商。