Method of auction of futures contract in which traders sell their futures contracts at a specified price by crying out in louder voices is classified as

A. traders gathered auction

B. close outcry auction

C. specified auction

D. open outcry auction

Answer: Option D

Solution(By Examveda Team)

Method of auction of futures contract in which traders sell their futures contracts at a specified price by crying out in louder voices is classified as open outcry auction. Open outcry is a method of verbal and hand signal communication used by traders at stock and futures exchanges. Signals and shouts convey trading information, intentions, and acceptance in the trading pits.