TRADE, an automatic order execution facility for trading securities in Britain, is discussed. The system was developed; by the British securities house Barclays de Zoete Wedd (BZW) and was unveiled in June 1988. BZW supplies terminal software and a network connection to its customers (generally small brokerage houses and money managers). Users can look at current market prices and execute trades at touch (best bid and ask quotes) in over 1450 stocks and 95 government bonds. TRADE capabilities and benefits are presented.< <ETX xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">></ETX>
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Clemons et al. (2002) studied this question.