Farewell to the floor?
Are exchanges coming to grips with the threats from technology, or are they in their death throes?
AFTER years of torpor, the world's stock and derivative exchanges are in turmoil. Last week the London Stock Exchange (LSE), the world's third-largest by volume, announced that it wants to stop being mutually owned by its members and turn itself into a shareholder-owned company. This follows announcements by the world's two biggest exchanges, the New York Stock Exchange (NYSE) and Nasdaq, that they too want to shed their mutual status.
This article appeared in the Finance & economics section of the print edition under the headline “Farewell to the floor?”
From the August 7th 1999 edition
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