Super Display Book (SDBK)
The term super display book refers to a computerized system used by the NYSE to display, record, and execute orders for securities. The super display book routes orders directly to the correct specialist for immediate execution.
The vast majority of orders placed by individual investors are never handled by a floor broker. The services of a floor broker are typically limited to larger, more complex, institutional traders. Trades placed by individual investors on the NYSE are routed by the super display book (SDBK) directly to a specialist for immediate execution.
The SDBK is a sophisticated computer program that holds and displays information such as the order type, quantity, price and timing. If the trader places a pre-opening order, the super display book can match orders automatically and then route them for execution when the market opens. In the event a matching order cannot be located immediately, the SDBK will hold the order in queue, and once the order is executed it will send an electronic confirmation back to the originating broker.
Automated trading systems, like SDBK, 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. Finally, they're also able to provide another layer of security against fraud, thereby helping to control risk too.
The NYSE's Super Display Book System replaced SuperDOT in 2009.