A system in which buyers enter Competitive bidders and sellers enter Competitive offers simultaneously, as opposed to the Over-the-Counter market, where trades are negotiated. Examples are the NYSE and the AMEX. A double Auction market can also be carried out by open Outcry, in which buyers and sellers Call out prices that they are willing to Buy and Sell at, and a match is made if a buyer and seller Call out the same price. Double auction markets usually feature a large number of buyers and sellers, and thus participants tend to incur lower Transaction costs than in the Over-the-Counter market. also called auction market.
