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State which line has the greater slope.
ECNs
Electronic communication networks that facilitate the buying and selling of securities outside traditional stock exchanges.
Transactions Costs
Expenses incurred when buying or selling securities, including broker commissions and spreads.
Traditional Markets
Markets that refer to established financial exchange venues and systems where stocks, bonds, and other securities are traded.
Initial Margin
This refers to the minimum amount of capital required to enter into a position in the securities or futures market, serving as a deposit to cover potential losses.
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