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An electronic trading platform being used at theDeutsche Börse.

Anelectronic trading platform, also known as anonline trading platform, is awebsiteorcomputer programused tovia a network with afinancial intermediarysuch as astockbrokerinvestment bank, orbroker-dealer, or directly withmarket makersor other participants. Financial products commonly traded includestocksbondscurrencyexchange-traded fundscommodities, andderivatives. Such platforms allow transactions to be executed from any location and are in contrast to trading viaopen outcry. Electronic trading platforms can connect with anelectronic communication networkstock exchangealternative trading systemcrossing networkdark poolor broker system.

Electronic trading platforms typically provide trading tools such asmarket data, charting, news, account management, analyst research, and customizedbacktesting. They may also be designed to automatically execute transactions based on atrading strategysuch as those usingtechnical analysisfundamental analysisalgorithmic trading, or to dohigh-frequency tradingandday trading.

The term trading platform is generally used to avoid confusion with trading system which is more often associated with thetrading method or strategyrather than the computer system used to execute orders within financial circles.1In this case platform is used to mean a type of computing system or operating environment such as a database or other specific software.

Before the 1970s, transactions were handled manually, with astockbrokeror acounterpartyviaopen outcry.

In 1970, Multi-Access Interactive Time-Sharing Systems made investment tools widely available to stockbrokers.2

The first electronic trading platforms were typically associated with stock exchanges and allowed brokers to place orders remotely using private dedicated networks anddumb terminals. Early systems would not always provide live streaming prices; orders were entered asrequest for quotations.

In 1971,NASDAQwas founded as a computerized trading platform; moving away from the use ofstock certificates.2

In 1985,William A. Porterfounded Trade*Plus (nowE-Trade), which offered an electronic trading platform viaAmerica OnlineandCompuserve.3

In August 1994, K. Aufhauser & Company, Inc. (later acquired byTD Ameritrade) became the first brokerage firm to offer online trading via its WealthWEB platform.4

In January 1996, Transterra launched Accutrade for Windows (nowTD Ameritrade).5

Conquering the Seven Faces of Risk: Automated Momentum Strategies that Avoid Bear Markets, Empower Fearless Retirement Planning

Weinberg, Neil (October 1, 2001).After the Bubble.

Leveling the Playing Field: A Q&A With Nomics CEO Clay Collins.

Reclaim Your Nest Egg: Take Control of Your Financial Future

Articles needing additional references from November 2018

This page was last edited on 14 May 2019, at 04:02

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