Trading platform and trading facility

Generally, any institution that constitutes, maintains, or provides a physical or electronic facility or system in which multiple participants have the ability to execute or trade agreements, contracts, or transactions by accepting bids or offers made by other participants that are open to multiple participants in the facility or system. – Regulators in Germany consider such facilities to be the operation of banking or financial services subject to licensing, even if the transaction systems are not exchanges under the Exchange Act. – See dark pool, foreign exchange, computerized, flash crash, counterparty, central, money market, trading range, trading system, alternative, trading system, multilateral, market, third, over-the-counter trading, pre-trade transparency, securities market. – Cf. BaFin Annual Report 2007, p. 153 f. (new legal framework; publication requirements), BaFin Annual Report 2009, p. 60 (emergence of new platforms), p. 177 f. (increasing importance of platforms).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/