Technology is universally recognised as a key factor in the
development of financial markets in recent years. And now it
forms the bulk of exchanges' costs. Yet, as a new report from
consultancy firm Trading Technology finds, exchanges are
adopting very different IT strategies, with the larger, more
mature markets often the least sophisticated in their
The report - A Strategic Study of Stock Exchange Technology,
published in association with FOW - finds that floor-based
exchanges are often greater users of technology than those that
run electronic markets. "Chicago Board Options Exchange has
more computer screens under one roof than any other building in
the world," said Trading Technology's Paul Pickup. Such a
strategy, he warns, adds to overheads as exchanges have to fund
the floor, with the real estate and staffing costs that
accompany it, as well as the technology.
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