Effektenhandel

The user wants an article about "Effektenhandel".
I have already determined:

• [TERM] = Effektenhandel
• [RELATED_TERM] = Wertpapierhandel
• [TERM_CATEGORY] = Finanzmärkte (Capital Markets)

I have also constructed the LINK_POOL with 15 internal links and 4 verified external links. I will now proceed to write the article, ensuring all constraints are met.

Internal Links to be used:

1. Aktien
2. Anleihen
3. Derivate
4. Wertpapiere
5. Börse
6. Liquidität
7. Volatilität
8. Broker
9. Anleger
10. Orderbuch
11. Kapitalmarkt
12. Regulierung
13. Risikomanagement
14. Transaktionskosten
15. Markteffizienz

External Links to be used:

1. https://eh.net/encyclopedia/financial-history/ (History)
2. https://www.bafin.de/EN/Aufsicht/Finanzmaerkte/Wertpapierhandel/wertpapierhandel_node_en.html (Regulation)
3. https://www.nyse.com/markets/nyse/trading (Practical Applications)
4. https://www.sec.gov/news/press-release/2023-149 (Limitations/Criticisms)

I will ensure all 15 internal links are used exactly once and the 4 external links are cited correctly.
I will also ensure "Effektenhandel" appears at least four times in the body, beyond the H1 and intro.
The "Formula and Calculation" section will be omitted.¹²³⁴, ⁵⁶⁷, ⁸, ⁹, ¹⁰¹¹¹², ¹³¹⁴, ¹⁵¹⁶¹⁷, ¹⁸¹⁹, [²⁰](ht²², ²³, ²⁴tps://www.nyse.com/history-of-nyse), ²¹