Markets registered with regulators such as exchange, multilateral trading facility (MTF), swap execution facility (SEF). In the context of regulatory reporting (e.g. CFTC reporting), this is used for regulated markets, e.g. swap markets.
Off-book, off-facility. In the context of regulatory reporting (e.g. CFTC reporting) this identifies trades conducted away from a regulated market.
Central limit order book
Quote driven market
Dark order book
Auction driven market
Markets where matching occurs only in scheduled auctions.
Discretionary quoting on request or request for quote market.
A trading system where transactions between members are arranged through voice negotiation.
A hybrid system falling into two or more types of trading systems. Can also be used for ESMA RTS 1 other type of trading system.