haku: @author Fan, M. / yhteensä: 2
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Tekijä: | Fan, M. Stallaert, J. Whinston, A. B. |
Otsikko: | The Internet and the Future of Financial Markets |
Lehti: | Communications of the ACM
2000 : NOV, VOL. 43:11, p. 83 |
Asiasana: | FINANCIAL MARKETS INTERNET ECONOMIC SYSTEMS FINANCIAL SERVICES FINANCE |
Kieli: | eng |
Tiivistelmä: | This article focuses on two processes of the exchange markets that will further enhance competition and efficiency in the marketplace: order routing and order execution. First the authors describe a direct trading model, which allows individual investors to trade directly at different markets. Further the authors describe a novel Financial Bundle Trading System (FBTS) that can match and clear bundle orders. In financial markets, a bundle can contain a combination of stocks or other financial instruments such as commodity or interest futures, options, bounds and foreign currencies. The authors state that market process reform in current financial markets involves interrelated processes that span the boundaries of individual firms. |
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