Electronic communication network
An electronic communication network, or ECN, is an automated system that brings together buy and sell interest from participants. Its matching rules, access arrangements, and displayed liquidity vary; it does not necessarily show all orders in the wider market.
In an illustrative ECN, a participant's limit sell order matches another participant's compatible buy order automatically, subject to the network's rules and available quantity.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Glossary definitions are general education only and are not investment advice. Risk disclosure