The first electronic trading platforms were typically associated with stock exchanges and allowed brokers to place orders remotely using private dedicated networks and dumb terminals.
Trading systems evolved to allow for live streaming prices and near instant execution of orders as well as using the internet as the underlying network meaning that location became much less relevant. The client graphical user interface of the electronic trading platforms can be used to trade currencies, equities, future, or options and are also sometimes called trading turrets (this may be true, but is probably a misues of the term, as trading turret refers to the specialized phone appliance used by traders).
Electronic Broking Services — (EBS) was created by a partnership of the world s largest foreign exchange (FX) market making banks.
Multilateral Trading Facility — A Multilateral Trading Facility (or MTF) is a specific type of European financial trading system.
Some platforms have been specifically designed to allow individuals to gain access to financial markets that could traditionally only be accessed by specialist trading firms such as allowing margin trading on forex and derivatives such as contract for difference.
Some electronic trading platforms have built in scripting tools and even APIs allowing traders to develop automatic or algorithmic trading systems and robots, which have been used by high frequency traders. Electronic trading, sometimes called etrading, is a method of trading securities (such as stocks, and bonds), foreign exchange or financial derivatives electronically.
Such platforms allow electronic trading to be carried out by users from any location and are in contrast to traditional floor trading using open outcry and telephone based trading. They may also be designed to automatically trade specific strategies based on technical analysis or to do high-frequency trading.
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