Designated Order Turnaround (SuperDOT)
The term designated order turnaround system refers to a computerized network that routes instructions to exchange specialists, thereby bypassing brokers. The designated order turnaround system quickly executes orders to both buy and sell relatively large baskets of stock.
Also known as SuperDOT, the designated order turnaround (DOT) system is a computer program that automatically routes large baskets of orders to exchange specialists in addition to odd-lot transactions. Automated trading systems like SuperDOT have the capacity to execute orders with both speed and accuracy. By removing human intervention in this phase of the order-handling process, these systems can lower the number of errors too. Finally, they’re also able to provide another layer of security against fraud, thereby helping to control risk.
While individual investors will rarely have direct access to SuperDOT, their broker’s online services place their orders into this system. Through this mechanism, a trader receives a confirmation of their transaction in real time. SuperDot was used by the New York Stock Exchange and was an upgrade from DOT. SuperDOT was replaced by the NYSE Super Display Book system (SDBK) in 2009.