The new market: computers bypass WallStreet middlemen and stir controversy; big traders like speed, cost of off-exchange dealing but little guy may suffer; brokers worry about jobs

Article Abstract:

New computer technology threatens the jobs of middlemen in financial markets as it becomes less costly and more effective. For example, business that traditionally would be routed through a stock-trading specialist can now be managed via an off-exchange system that brings buyers and sellers together electronically. Banks, securities companies and money management firms are using private networks, and the result is that investors are brought into direct contact with one another. Computerized systems are fast and inexpensive, but such networks do not favor small investors. Some observers fear that an absence of regulation will breed manipulation or fraud as transactions shift away from organized exchanges. Another advantage of computerized networks is their ability to operate around the clock.

Security brokers and dealers, Analysis, Economic aspects, Laws, regulations and rules, Employment, Securities industry, Technology application, Wall Street, Automation, Market makers (Securities trading), Technological unemployment, Industry Analysis, Technology-Induced Unemployment, Financial Services, Government Regulation

---

Program trading growing overseas, Big Board says

Article Abstract:

The New York Stock Exchange (NYSE) released a report showing program trading is increasing in overseas markets. From Nov 6 to Nov 10, 1989, 26.9 percent of al program trades occurred overseas. Between Nov 13 and Nov 17, overseas program trading accounted for 32.9 percent of the total. Program traders said the recent restrictions placed on them on the NYSE are making them move to the London stock market. The report also claimed overall program trading is down and that Charles Schwab and Co made enough trades recently to fit the definition of a program trader. The weekly program trading report is part of NYSE's initiatives to reduce market volatility.

Security and commodity exchanges, Reports, New York Stock Exchange Inc., Program trading (Securities)

---

Similar abstracts:

• Abstracts: A new wireless Palm Pilot for e-mail and the Internet: it's elegant but limited. Future users will see a hand-held and ask: is it dead or alive?
• Abstracts: Apple Computer is considering big staff cuts. Apple Computer to fire 10% of its staff in restructuring bid to cut expenses
• Abstracts: Fujitsu Ltd. shows money is no object in winning contract; computer firm stuns official by bidding only one yen on big Hiroshima project
• Abstracts: Mips to unveil first personal computers built to meet consortium's specifications. Mips Computer to show model based on RISC

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.