| 11. | The second is a link with electronic exchanges, the primary one being Instinet.
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| 12. | The exchanges say they need capital to compete with the upstart electronic exchanges.
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| 13. | However, now German bond futures are predominantly traded on Eurex, a German-based electronic exchange.
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| 14. | Buying and selling stocks on electronic exchanges is faster and cheaper than traditional exchanges.
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| 15. | Institutional investors continued trading on the Instinet, an electronic exchange.
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| 16. | The DTB was an electronic exchange founded in 1990 and the predecessor to Eurex.
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| 17. | Today SPC is a standard feature in all electronic exchanges.
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| 18. | But some electronic exchanges do not have such limits.
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| 19. | Currently, BM & FBOVESPA is a fully electronic exchange.
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| 20. | Instinet is an electronic exchange that matches up buyers and sellers of stock without middlemen.
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