Electronic Communications Network financial definition of Electronic Communications Network. Electronic Communications Network finance term by the Free Online Dictionary.

Electronic Communication Network

A computer system that facilitates over-the-counter trading as well as exchange trading. The electronic communication network sends buy or sell orders to the appropriate specialiston the floor of a stock exchange, bypassing the floor broker. A company running an ECN charges a fee for its services.

electronic communications network (ECN)

A computerized trading network that matches buy and sell orders entered electronically by customers. Orders that cannot be immediately matched are posted for viewing by investors who may wish to take an offsetting position. Instinet became the first ECN when it started business in 1969. Archipelago and Island are two other large electronic communications networks. One study indicated that in January 2001 ECNs handled over 50% of all Nasdaq transactions.

Electronic communications network (ECN). An ECN is an alternative securities trading system that collects, displays, and executes orders electronically without a middleman, such as a specialist or market maker.

Trading on an ECN allows institutional and individual investors to buy and sell anonymously. Further, ECNs facilitate extended, or after-hours, trading.

ECN trade execution can be faster and less expensive than trades handled through screen-based or traditional markets, though the volume is sometimes thin.

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