As we begin the final book in this set, let us take a moment to think about the possible future evolution of the trading markets. We began Book 1, An Introduction to Trading in the Financial Markets: Market Basics, by providing a brief history of the markets. This book starts with a short contemplation of the future of the markets (see Figure F.0).


Figure F.0 The future of the trading markets is being shaped by market forces and will result in changes in the structure of markets and new approaches to trading illiquid instruments.

Our contemplation of the future focuses on three primary discussions. First, we examine the forces that shape ...

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