Open Yale CoursesECON 252: Financial MarketsLecture 19 - Brokerage, ECNs, etc.<< previous session | next session >>Overview:The exchanges in which stocks and other securities are traded serve an important function in finance. Theybring together people interested in buying and selling securities in order to create a universal price. Brokersand dealers are also an important part of the system, their methods and standards are ultimately behind thesuccess of the exchanges. Many information innovations have advanced the functioning of exchanges, goingall the way back to the ticker machine, which was created to communicate the price of securities at a point intime to all interested parties. Electronic Communication Networks and automatic exchanges, more generally,
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