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An Introduction to Trading in the Financial Markets: Market Basics by R. Tee Williams

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Introduction

Since the 1960s, there have been three major international financial regions in the world: Asia, Europe, and North America. Other regions in Africa, Oceania, and South America have operated as important satellites.

Within the regions, cities have emerged in the role of the dominant financial centers, and most of the rest of the world’s trading markets have revolved around those centers. The tendency of financial centers to coalesce around a single city has been helped by two trends. First, technology made trading at a distance possible. Second, economics caused global financial firms to choose a structure where all trading in a region is focused in one dominant city, and smaller satellite cities primarily have sales offices with limited ...

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