Terms starting with E

Electronic Communication Network (ECN)

An automated system that matches buy and sell orders from multiple participants, allowing direct trading without a dealing desk or market maker.

Also: ECN

Execution Analytics

Quantitative metrics and dashboards measuring trade execution quality, including fill rates, slippage distributions, and latency breakdowns.

Execution Policy

A formal document describing how a broker handles order routing, price formation, priority logic, and conflict-of-interest mitigation.

Execution Quality

An aggregate measure of how well trades are executed, factoring in speed, price improvement, fill ratio, and slippage.