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Automated Pit Trading (APT)

Definition:

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.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Clean-up merger

Consolidation of the acquired firm into the acquiring firm after the merger. Also called take-out merger.

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