PT - JOURNAL ARTICLE AU - Rebecca Lewis AU - John McPartland TI - A New Approach to Stock Market Execution AID - 10.3905/jot.2016.11.2.065 DP - 2016 Mar 31 TA - The Journal of Trading PG - 65--70 VI - 11 IP - 2 4099 - https://pm-research.com/content/11/2/65.short 4100 - https://pm-research.com/content/11/2/65.full AB - The Financial Markets Group of the Federal Reserve Bank of Chicago has a keen interest in frequent batch auctions as a potential tool to diminish the utility of raw speed in executing trades on electronic financial markets. The Chicago Stock Exchange has received approval from the Securities and Exchange Commission to launch an innovative variant of batch auctions, the CHX SNAP auction. This article describes the CHX SNAP auction concept in great detail. If commercially successful, the CHX SNAP auction would allow institutional traders to leave hidden resting equity orders at the CHX out of the vision of digital traders who might otherwise attempt to profit from such knowledge.TOPICS: Exchanges/markets/clearinghouses, legal/regulatory/public policy