Fairly accurate, as a combined description. To know who are the participating contributors providing the price quotes through the system would be good to know as a matter of information. It would also help to know how many contributory banks and institutions do contribute to these prices. From which company do they get these real time price feeds from? Does it really matter to you as an individual or as an investor? Or is it more important to learn how to be able to manage a trade plan, properly executed and win in the market? If the answer is 'yes' to all questions then, you have just done the 1st step on due diligence.
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