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Aces Pass-Thru

 

run by the Nasd ACES Pass-Thru automates trades between order-entry and market-maker firms that have established trading relationships with each other, designating securities at specified quantities for automatic execution. Once trading parameters are set, ACES Pass-Thru facilitates order entry, best-price order execution, and limited-order maintenance, as well as a variety of inventory control capabilities. Trades are then automatically reported for public dissemination and sent for comparison and clearing.

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Financial & Investment Dictionary. Dictionary of Finance and Investment Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more