American ECN moves into Korean securities

Hong Kong the likely next step for Island''s expansion into Asia.

Korea is the new beach head in the growing war between the world's established stock exchanges and the new, technology-savvy electronic communication networks ECNs. Island ECN went on the offensive last week with the announcement that it had moved into the Korean securities market through a joint venture with Uclick, a financial portal and technology provider.

ECNs are a form of alternate trading systems that facilitate off-market auction matching of customers' buy and sell orders. Like...

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