The New York Stock Exchange (NYSE) is an example of an auction market. Auction markets differ from over the counter where trades are negotiated. For example, 4 buyers want to buy a share of XYZ and make the following bids: $10.00, 10.02, 10.03 and $10.06. Conversely, there are 4 sellers that desire to sell XYZ and they submitted offers to sell their shares at the following prices: $10.06, 10.09, 10.12 and $10.13. In this scenario, the individuals that made bids/offers for XYZ at $10.06 will have their orders executed. All remaining orders will not immediately be executed and the current price of XYZ will then be $10.06.
фр.marché d'enchères; marché aux enchères
исп.mercado de subasta
аукционный рынок ценных бумаг
Продажа и приобретение активов через брокеров на фондовых биржах в отличие от внебиржевого рынка, где условия сделки обсуждаются. Цена формируется в результате конкурентного соглашения между брокерами, действующими в качестве агентов продавцов и покупателей.