In off-book trading, how are orders and quotes handled?

In off-book trading, orders and quotes are handled through automatic matching processes. This means that once a trade is initiated, the system uses algorithms to automatically match buy and sell orders without the need for manual intervention. This automated approach enhances efficiency, reduces the potential for human error, and allows trades to occur more swiftly, aligning with the fast-paced nature of financial markets.

While other methods such as manual matching or storing orders for later matching may exist in different trading contexts, they do not apply to the typical process of off-book trading, where efficiency is a key focus.