At this indulgent time of the year we’re all hungry (and thirsty) for market structure knowledge as well as a festive tipple.
So here’s our guide to merry market mechanisms.
big xyt’s Merry Market Mechanisms
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Opening Auction - SherryNot something you think about in advance and can kick the day off with a surprise |
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Lit Continuous - WaterFreely available and ideally should encourage participation throughout the day |
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Periodic/Frequent Batch Auctions - FizzLots of exciting bubbles, but not always champagne quality |
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Closing Auction - PortTempting to get more involved because you think everyone else is, but you can regret it the next day if you overdo it |
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Dark - Chocolate LiqueursDark on the outside with something to savour at the mid-point |
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SI - AdvocaatAlmost certainly Dutch in origin, but no one really knows their secret recipe |
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Off-Book (On-Exchange) - Red WineLovely to toast an extra large one, but one of you will regret it in the morning |
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OTC - SpiritsCome in a variety of forms with confusing labels - careful not to mix them up and not all of them are within reach (more on this later in the series…) |