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Electronic Communication Networks group 8

Electronic Communication Networks group 8 - is now...

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Electronic Communication  Networks(ECNs) Group 8  Sin Yi, Wong Jenny Gip Tyle Le
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ECNs are automated systems for disclosing and executing stock trades. They were created in the mid- 1990s to publicly display buy and sell orders of stock. Normally service institutional rather than individual investors.
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They eliminate the role of a third party in the execution of orders entered by an exchange market maker. They allow for more efficient execution of trades, and
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Unformatted text preview: is now aggregate account for more than 30 percent total trading volume on Nasdaq. • Some ECNs focus market orders o Receive orders and direct them to networks seeking the best price for a order o Electronically match orders that are not fulfilled o Automatically executes transactions when a match for an order is found o If a matching order cannot be found, it is added to the book o Transactions take 2 seconds on average to execute...
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