| Opening Automated Reporting System (OARS) |
| OARS, a feature of the SuperDot® system, is designed to accept member firms' pre-opening market orders for all stocks up to 30,099 shares for rapid, systematic execution and immediate reporting. OARS automatically and continuously pairs buy and sell orders and presents the imbalance to each specialist up to the opening of a stock, thus assisting the specialist as he or she determines the opening price. |
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