Electronic stock exchanges that execute stock transactions electronically are referred to as electronic communications networks (ECNs).

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Electronic communications networks (ECNs) are a type of electronic stock exchange that execute stock transactions electronically, often without the need for a traditional stockbroker. ECNs offer investors access to a range of different types of securities, including stocks, bonds, and exchange-traded funds (ETFs), and allow them to execute trades quickly and easily. ECNs are typically used by institutional investors and day traders who need to make fast trades with minimal delay or slippage.

Electronic Stock Exchanges That Execute Stock Transactions Electronically Are Referred