And they are doing it in ways that were unimaginable a decade ago. Let's look at the impact of technology on trading decisions. Broker-dealers and institutional investors have long been substantial consumers of technology. It has provided the tools to help market players manage trading positions, and receive and process the information critical to trading decisions. Investors now have ready access to information that up until a few years ago was available only to securities professionals.
Websites routinely provide a seamless integration of news, analysis and research.
Not more than a few years ago, most investors were checking stock prices in the next day's newspaper. Today, thousands and thousands of investors are checking their stocks two, three, four times a day through real-time stock tickers on the Internet. Simply type in the company name on a watch list and the computer does the rest. Technology is allowing the average investor to eliminate or at least minimize the middleman. Such services may include advice, finding deeper pools of liquidity or fine-tuning the wealth of information on the Internet.