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Electronic Exchanges by Nidhi Singh, Michael Gorham

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Appendix B Technology Terminology
Application Programming Interface (API)A set of functions, procedures, methods, classes or protocols that is used by a software program to request another software to perform a task.
ECN (Electronic communication network)A computer system that facilitates trading of financial products electronically.
Exchange GatewayA bridge between trading screens or automated trading system and the exchange matching engine. Orders routed from any trading terminal first goes through the exchange gateway where they either gets accepted or rejected based on the order structure.
Execution Management system (EMS)A software application that allows financial community access to multiple trading venues similar to front-end trading systems. ...

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