翻訳と辞書 Words near each other ・ Electronic message journaling ・ Electronic messaging ・ Electronic Miscellaneous Document ・ Electronic mixer ・ Electronic money ・ Electronic Money Association ・ Electronic Municipal Market Access ・ Electronic music ・ Electronic music (disambiguation) ・ Electronic Music Foundation ・ Electronic Music Laboratories ・ Electronic Music Midwest ・ Electronic Music Studios ・ Electronic Music Systems ・ Electronic musical instrument ・ Electronic communication network ・ Electronic Communications Act 2000 ・ Electronic Communications in Probability ・ Electronic Communications Privacy Act ・ Electronic compass ・ Electronic component ・ Electronic consultation ・ Electronic control unit ・ Electronic correlation ・ Electronic Cottage ・ Electronic counter-countermeasure ・ Electronic countermeasure ・ Electronic court filing ・ Electronic Cultural Atlas Initiative ・ Electronic daily devotional Dictionary Lists mini英和辞書 mini和英辞書 Webster 1913 Latin-English FOLDOC Wikipedia English ウィキペディア

翻訳と辞書　辞書検索 [ 開発暫定版 ] スポンサード リンク Electronic communication network ： ウィキペディア英語版 Electronic communication network An electronic communication network (ECN) is a type of computerized forum or network that facilitates the trading of financial products outside of traditional stock exchanges. An ECN is generally an electronic system that widely disseminates orders entered by market makers to third parties and permits the orders to be executed against in whole or in part. The primary products that are traded on ECNs are stocks and currencies. ECNs are generally passive computer-driven networks that internally match limit orders and charge a very small per share transaction fee (often a fraction of a cent per share).〔Lemke and Lins, ''Soft Dollars and Other Trading Activities'', §2:27 (Thomson West, 2013-2014 ed.).〕 The first ECN, Instinet, was created in 1969. ECNs increase competition among trading firms by lowering transaction costs, giving clients full access to their order books, and offering order matching outside of traditional exchange hours. ECNs are sometimes also referred to as alternative trading systems or alternative trading networks. ==Function== To trade with an ECN, one must be a subscriber or have an account with a broker that provides direct access trading. ECN subscribers can enter orders into the ECN via a custom computer terminal or network protocols. The ECN will then match contra-side orders (i.e. a sell-order is "contra-side" to a buy-order with the same price and share count) for execution. The ECN will post unmatched orders on the system for other subscribers to view. Generally, the buyer and seller are anonymous, with the trade execution reports listing the ECN as the party. Some ECN brokers may offer additional features to subscribers such as negotiation, reserve size, and pegging, and may have access to the entire ECN book (as opposed to the "top of the book") that real-time market data regarding depth of trading interest. ECNs are generally facilitated by electronic negotiation, a type of communication between agents that allows cooperative and competitive sharing of information to determine a proper price. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Electronic communication network」の詳細全文を読む スポンサード リンク 翻訳と辞書 : 翻訳のためのインターネットリソース Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.