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| Author: | Clemons, E. Weber, B. |
| Title: | Information technology and screen-based securities trading: pricing the stock and pricing the trade |
| Journal: | Management Science
1997 : DEC, VOL. 43:12, p. 1693-1708 |
| Index terms: | MANAGEMENT INFORMATION TECHNOLOGY TRADE |
| Language: | eng |
| Abstract: | Many major stock exchanges rely on their member firms to act as dealer intermediaries, risking their own capital to trade as dealers with investor customers. A confluence of forces will dramatically alter the role of these intermediaries and the strategies available to them. Information technology is increasing the diversity of trading strategies used by investors; these impose different costs and risks upon intermediaries. Alternative electronic trading venues are increasing the competition. |
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