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ECN stands for Electronic Communication Network. The original ECN was Instinet. Island is the number two ECN and there is MarketXT, Archipilego. What ECN's do is match buyer and seller usually anonymously. On Instinet the buyers and sellers may even negotiate the price with each other and trade without a spread. You can see the Island Book here.
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It provides instruction in using SOES, SelectNet and ECNs (Electronic Communication Networks), as well as provides an overview of how markets affect a day trader. In addition, it compiles rules and regulations directly affecting day traders, and reveals common mistakes and pitfalls made by novice traders. The goal of the book is to provide fundamental knowledge and skills, as well as trading insights on which a day trader can establish and advance their career. |