What is an electronic trading platform, what are the types of trading floors, and how to choose a trading platform? Electronic trading platform (ETP) is a necessary tool for purchasing in electronic form. For the user, this is a specialized website, after registration on which authorized employees of a legal entity can, on behalf of this legal entity, declare purchases as a customer or participate in them as suppliers.Electronic trading platforms allow customers to organize electronic procurement procedures, and potential suppliers to participate in them, competing for the right to deliver products to this customer. Another area of activity is providing bidders with the opportunity to sell tradable property in electronic form - in this case, potential buyers are already competing for the right to acquire tradable property.Three parties participate in electronic procurement: the bidding organizer (customer), bidders and the electronic trading platform operator (ETP). Each of these parties has a unique legal status and does not have the right to interfere in the activities or exercise the powers of the other side, since otherwise the risk of manipulation during the procurement and, as a consequence, a violation of the selection procedure for the winner increases sharply. The procedures carried out at each electronic trading platform are described in detail in the regulations of the respective electronic trading platforms, and these regulations are usually posted in the public domain on the sites of electronic trading platforms.
https://en.wikipedia.org/wiki/Electronic_trading_platform
Comments