Oral bids and offers made in the trading rings, or pits. "Open outcry" is required for trading futures and futures options contracts to assure arms-length transactions. This method also assures the buyer and seller that the best available price is obtained.
OPEN OUTCRY
Meaning of OPEN OUTCRY in English
A guide to futures and options market technology English dictionary. Английский словарь-руководство по фьючерсам и опционам рыночных технологий . 2012