Direct Edge ECN Snapshot
Direct Edge ECN (electronic communication network) thinks traditional stock exchanges are so 1997. (ECNs have only been allowed by the Securities and Exchange Commission since 1998). Direct Edge ECN is a virtual stock exchange that trades Tape A, B, and C securities online, and only accepts SRO (self-regulatory organization) broker-dealers in the US. Direct Edge used the National Stock Exchange's NSX BLADE as a quoting vehicle until 2008, when it migrated to the International Securities Exchange (ISE) after buying it. Direct Edge is owned by Knight Capital Group, Citadel Investment Group, and Goldman Sachs.