What is a Designated Order Turnaround?
The Designated Order Turnaround is an efficient programmable system that makes it possible to route investment orders for specified options directly to a specialist located on the floor of the exchange. Doing so allows the order to bypass the usual practice of going through a broker before the order is executed by the exchange. Known around the New York Stock Exchange as the DOT, the Designated Order Turnaround effectively speeds up the placement of orders in an environment that is often extremely time sensitive. The process of utilizing a Designated Order Turnaround involves the use of computer technology to relay the order. Making use of a network interface, it is possible for investors to submit orders that are immediately logged in the servers for the exchange. The orders can be executed and confirmation of the execution relayed to the investor in real time. Along with investors, it is also possible for stock exchange agencies to make use of the Designated Order Turnaround system.
