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Electronic Communication Network (ECN) - Define meaning of the word ECN
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An electronic order matching system that allows a trader to advertise their bid or offer, or execute a trade without using a market maker. ECNs that are widely used would include: Archipelago (ARCA), Bloomberg (BTRD), Instinet (INCA), Island (ISLD), SelectNet (NASD), and Spear Leads (REDI).

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