Definition: A stock market or exchange where securities are continuously priced and traded in an auction format when the market is open.
Examples: One advantage of an ETF is that it trades on a continuous market. As long as the market is open, an investor can trade ETFs at current auction market prices.
The Philadelphia Stock Exchange (PHLX) is a continuous market exchange whose trading hours are 9:30am until 4:02pm Eastern Standard Time.
