The tremendous evolution of the markets since the days of actual ticker tape and smoke-filled back-room deals is widely recognized, but perhaps even more noteworthy for everyday investors have been the changes witnessed during the last 15 years thanks to the proliferation of electronic markets. While professional traders may mourn the days of the competitive, yet clubby, tightly packed pits on the floor, today's electronic markets have ushered in a new era of competition amongst traders that is benefitting end users like never before. Elements of electronic trading like colocation, proximity hosting and network connections allow for more market participants to have access to market data and post their orders than the limited space of the trading floor ever did. And for those who have long relied on the futures markets to hedge their risk, the benefits of electronic trading are equally significant, including lower costs, tighter spreads and greater liquidity.
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