Electronic exchanges
Subtitle: the global transformation from pits to bits
By: Michael Gorham, Nidhi Singh
Contributors: Singh, Nidhi; ScienceDirect (Online service)
Series: Elsevier and IIT Stuart Center for Financial Markets press
Publisher: Elsevier; Stuart School of Business, Center for Finacial Markets
Published: 2009
Place of publication: Amsterdam; [Chicago]
Language: eng
Format: [electronic resource] :
ISBN-13: 9780080921402; 9780123742520
Subjects: Electronic trading of securities
Description: Anyone reading the business section of a newspaper lately knows that the financial exchanges--stock, bonds, FX, commodities, and so forth--are undergoing tremendous transformations. Fund managers, market makers, traders, exchange professionals, marekt data providers and analyzers, investors--anyone involved with the financial exchanges needs to understand the major forces pushing this transformation in order to position themselves and their institutions to the best advantage. In this book, veteran exchange expert Michael Gorham joins his twenty-five years of experience with CME and CBOT to the technical expertise of Nidhi Singh of Goldman Sachs to write a book that tells the story of this dramatic transformation. They chronicle the shift: --from floors to screens --from private clubs to public companies, and --from local and national to global competition. They analyze each of these shifts, identify the drivers behind them and look forward to the implications arising out of them for exchange business in the future. They also explore several key trends: --an increase in product innovation --the integration of markets from all over the world onto a single screen, --the rise of the modular exchange --the outsourcing of various exchange functions, and --the difficulty of transcending geography for regulatory purposes. So join Gorham and Singh in learning the story of this fundamental transformation. As old ways of working are being destroyed, entirely new types of jobs are being created, and new ways of working with exchanges. This book will help you chart the way forward to financial success.
Notes: Description based on print version record.

Includes bibliographical references and index.
Table of contents: title: Exchanges: an unprecedented era of creative destruction; title: Back story: What is an exchange?; title: Transformation of Exchanges; title: From private club to public company; title: A new wave of product innovation; title: From local to global competition; title: From smaller to larger via mergers and acquisitions; title: Integration of markets on a single screen; title: Who is the exchange? The modular exchange and outsourcing; title: Where is the exchange and regulatory challenges; title: Implications of the transformation.