Used for listed equity securities. Group of exchange members with a defined area of function tending to congregate around a trading post pending execution of orders. Includes specialists, floor traders, odd-lot dealers, and other brokers as well as smaller groups with specialized functions. See: Priority.
Automated Pit Trading (APT) Introduced in 1989, APT is the LIFFE
screen-based trading system that replicates the open outcry method of trading
on screen. APT is used to extend the trading day for the major futures contracts
as well as to provide a daytime trading environment for non-floor trading
products.