Electronic Trading Arcades
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On August 27th, 2000, with the flick of a switch, the Chicago Board of Trade (CBOT), the world’s oldest futures exchange, launched its new electronic trading site offering futures and options contracts. Electronic trading is growing in popularity and approximately 75-200 electronic trade sites currently exist. Yet, when the computer revolution began, many individuals were misguided into thinking that the computer hardware or box was the significant item. By not licensing its operating software, Apple forced consumers to buy Macintosh boxes if they wanted Macintosh operating software. Thus, Microsoft made billions of dollars by developing and licensing software which anyone could use on any kind of box, while Apple went broke sticking to its “box” mentality. So, too, electronic trading is made or broke by the kind of software traders use that allows them to connect to and trade on systems like the CBOT or New York Stock Exchange (NYSE) or NASDAQ. Whether or not electronic trading will completely supplant open outcry trading in future remains unknown, but many industry experts argue it will “In Europe, electronic trading has already supplanted open outcry, and few doubt the same will happen in the US” (Gogoi 1). However, those who wish to competitively maintain electronic trading Web sites need to utilize technologies that provide such advantages. This analysis will discuss the basics of opening an electronic trading ar
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iness plans of many exchanges now include purchasing electronic technology systems in order to link them with other exchanges and traders on a global level. Remaining competitive in an era when state-of-the-art technology can become obsolete in a day means that those member firms able to secure the best technology will have the best chance at remaining competitive. Yet, converting from traditional trading methods to electronic ones also mean enormous potential for profitability. The all-electronic German-Swiss exchange, LIFFE, saw its trading volume increase by 30% after launching its electronic site (Clair 1).
Remaining competitive in the global trading market for electronic arcades often equates to technology that allows for greater efficiencies and greater offerings than the competition. One such firm is Eurex, an all-electronic brokerage that announces new products all the time. These products are designed to promote features and options that give individual investors more information and research access that pertains to investments “Officials recently announced the development of weather indexes based on data collected from 30 European cities by the German Meteorological Service. Eventually, the indexes will serve as
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Some common words found in the essay are:
SS&C Technologies, Arthur Levitt, Wall Street, NYSE NASDAQ, Smith Barney, Trade CBOT, Inc Competition, Commerce Act, Service Eventually, Dell Amazoncom, electronic trading, individual investors, trading arcades, electronic trading arcades, information research, established firms, remaining competitive, 11 2000, hope electronic trading, errors occur, exchange firms, electronic trading industry, competitive advantage, front-end trading screens, electronic trading web,
Approximate Word count = 1767
Approximate Pages = 7 (250 words per page)
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