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A Role That Is Conducted Primarily with Others External to the Subject

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A role that is conducted primarily with others external to the subject system is labeled


Definitions:

ECNs

Electronic Communication Networks are automated systems that match buy and sell orders for securities in the financial markets.

NYSE Arca

An electronic securities exchange in the United States where stocks and options are traded.

Automatic Trade Execution

A feature of trading platforms that allows for the immediate execution of trades at the market price, based on pre-set criteria without manual intervention.

Stop-Loss Order

A type of order placed with a broker to sell a security when it reaches a certain price, used to limit an investor's loss on a position.

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