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Quantitative Finance · Glossary

What is Primary venue, electronic communication network?

Also known as: primary venue · electronic communication network

Definition 14.5 Markets II: Rates, FX and Credit · Chapter 14 — The FX Market

A primary venue is one of the interdealer electronic order books that the market treats as the reference for a pair’s price. An electronic communication network (ECN) is any other electronic trading platform where several liquidity providers and takers meet, by order book or by request for quote, anonymously or with names disclosed.

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