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Directedge Ecn




Directedge Ecn is a member of NASD the National Association of Security Dealer. NASD is a self regulatory organization of the securities industry responsible for the operation and regulation of the NASDQ stock market and over the counter markets. It also administrates exams for the investments professionals, such as the series of 7 exams.
 
Direct Edge ECN is an electronic trading venue for market participants. Their goal is for Direct Edge ECN to offer enhanced trading flexibility, broadened access to liquidity, anonymity and industry-leading order fulfillment rates at very competitive prices. Today, the Direct Edge ECN provides market participants with the ability to match trades in Nasdaq National Market and Nasdaq Small Cap securities by displaying their orders in either the NASDAQ Market Center or the NASD Alternative Display Facility.
 
Direct Edge ECN clients seek enhanced trading flexibility, broadened access to liquidity, anonymity and industry-leading order fulfillment rates. Direct Edge ECN clients represent the spectrum of NASD-registered broker-dealers, ranging from bulge bracket firms to small- and mid-sized regional firms. All Direct Edge ECN clients must be registered broker-dealers in good standing with NASD.
 
Direct Edge ECN LLC accepts only broker-dealer subscribers to Direct Edge ECN and applies the following access criteria to all such subscribers:  all potential subscribers to Direct Edge ECN are required to demonstrate the financial capacity to guarantee the clearance and settlement of trades entered on their own behalf or on behalf of their customers. To that end, if a potential subscriber has less than $1,000,000 in excess net capital as reflected on their most recent FOCUS report, they are required to obtain a guarantee of trade settlement from their clearing firm; and  the disciplinary record of subscriber applicants is reviewed by Direct Edge ECN LLC and considered in the context of the applicant’s specific facts and circumstances.

Access to Direct Edge ECN may also be denied if a broker-dealer has an outstanding deficit balance with Direct Edge ECN LLC or any subsequent disciplinary issues.  Their goal is for Direct Edge ECN to offer broker-dealer clients enhanced trading flexibility, broadened access to liquidity, anonymity and industry-leading order fulfillment rates at very competitive prices.

Simply put, the firm expects this invigorated ECN to provide a much-needed alternative electronic trading venue in the marketplace.


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