Answer:
ECNs (electronic communication network)
Step-by-step explanation:
An electronic communication network can be regarded as computerized system which is designed to matches buyers as well as sellers orders automatically for securities so trading can take place in the market. ECN trading is designed to favor investor that are in different geographic areas , but want to have a complete aand secure transaction with absence of any
third party. It should be noted that One advantage of ECNs is the direct crossing of trades without using a broker-dealer system eliminates the bid-ask spread that otherwise would be incurred