These electronic brokers use sophisticated software programs that match buyers and sellers.

Intermediaries provide something else that electronic brokers cannot: price improvement.

They probably represent a bigger threat to the floor exchanges than do electronic brokers.

People were worried that the electronic brokers were going to clobber them.

But in many ways, the battle over whether to extend hours lines up the traditional Wall Street firms against the electronic brokers.

It is an electronic broker that is owned by the major primary dealers.

"We view them, as others, as electronic brokers, because what they do is offer our vehicles."

The electronic brokers tried to persuade investors to stick with them no matter how large their accounts.

Once highfliers, the stocks of electronic brokers have crashed along with the Nasdaq.

Typically, commissions charged by electronic brokers are smaller than those for conventional trading.