Chapter 2. Technology Is Driving Change
Introduction
If demutualization represents the most fundamental structural change in the world of financial exchanges, the relentless pace of technology cannot be far behind. New information technologies have affected, and continue to alter, the process flow in financial exchanges, from market access through trading and all the way to the very important clearing and settlement process.
Technologies also, one might argue, change the very nature of what we mean by a financial exchange. Peter Bennett, solutions principal at HCL Technologies and a founder of Tradepoint, argues that “execution venues” is a more apt description due to the wide diversity—driven by technology—of exchange-like services and solutions. ...
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