1. Electronic Trading: Introduction
  2. Electronic Trading: The Exchanges
  3. Electronic Trading: The Role of a Designated Market Maker
  4. Electronic Trading: The Role of a Market Maker
  5. Electronic Trading: Super Display Book (Formerly SuperDOT)
  6. Electronic Trading: Electronic Communications Networks (ECNs)
  7. Electronic Trading: Small Order Execution System (SOES)
  8. Electronic Trading: Level I, II and III Access
  9. Electronic Trading: Conclusion

The Super Display Book (SDBK) is the NYSE’s automated system that displays, records and executes orders for securities. It was previously known as the SuperDOT system (Super Designated Order Turnaround System), and before that, simply DOT.

The Super Display Book order-routing system is a sophisticated computer program that facilitates the transmission of both market and limit orders directly to the trading post (and Designated Market Makers) where a particular security is traded. This allows for a more efficient transaction because the order can be delivered directly to the DMM rather than phoned down to a floor trader and done manually. It displays such information as order type, quantity, price and timing. Automated systems like SDBK execute orders with speed and accuracy, and provide a layer of security against fraud – which can help control risk.

All listed securities can be traded over the SDBK system. If an order can be executed immediately, the system sends an electronic confirmation to the originating broker-dealer. Any premarket orders that can be matched up are automatically paired by the system and executed at the opening price; if any premarket orders can’t be paired, the SDBK holds the order in queue, and sends an electronic confirmation to the submitting broker after the order is executed.

Most orders placed by individual investors are never handled by a floor broker. Instead, these orders are routed through the SDBK, directly to a DMM for immediate execution. Floor brokers usually handle the larger, more complex institutional trade orders. 


Electronic Trading: Electronic Communications Networks (ECNs)
Related Articles
  1. Trading

    Understanding Order Execution

    Find out the various ways in which a broker can fill an order, which can affect costs.
  2. Trading

    Electronic Trading Tutorial

    Learn about the systems that run the market.
  3. Trading

    High-Frequency Trading: A Primer

    An in depth look at how high-frequency trading works and who the players are.
  4. Investing

    Explaining Market Orders

    A market order is the most common order used to purchase a financial security.
  5. Investing

    The Basics of Trading a Stock: Know Your Orders

    Taking control of your portfolio means knowing what orders to use when buying or selling stocks.
  6. Personal Finance

    A Day In The Life Of A System Trader

    Systems traders divide their time between trading, developing, backtesting, optimizing and forward testing, to create viable and high-probability trading systems.
Frequently Asked Questions
  1. Is it possible for a country to have a comparative advantage in everything?

    Learn whether one country can have a comparative advantage in everything and what the difference between comparative advantage ...
  2. What's the difference between publicly- and privately-held companies?

    Privately-held companies are owned by the company's founders, management, or private investors. Public companies are owned ...
  3. What Are Short-Term Investment Options?

    If you only have a short period of time in which to invest your money, there are several short-term investment options you ...
  4. What are leading, lagging and coincident indicators?

    Leading indicators move ahead of the economic cycle, coincident indicators move with the economy, and lagging indicators ...
Trading Center