Q: What are ECN's? A: ECN, Electronic Communications Network. An automated electronic trading system that allows users to execute trades without going through a Market Maker. Primarily used for Limit orders. It is expensive to use so it is generally used by the big boys or individual investors who do a lot of trading.
Q: Who are the ECN's? A: ECN list, ARCA, AUTO, BRUT, BTRD, DATA, EDGX, GLBA, GNET, INCA, ISLD, REDI, TRAC. Limit orders are usualy routed to an ECN by your broker. ARCA is the ECN used by Ameritrade. If anyone knows any others please let me know.