Stock answer; buying and trading securities on the Web could revolutionize the relationship between investors and brokerage firms

Article Abstract:

The Internet is increasingly being used for the trading of company securities, and users are benefitting from the improved access to stock information and the time-savings inherent to the technology. Internet trading requires only a secure Web browser and the lower fee-transaction costs that online services charge provide users with substantial cost savings. The majority of the 800,000 present electronic investors still rely on proprietary software from brokerage houses, but Web technology offers greater investing freedom and wider access to traders. This use of Web technology offers smaller trading firms a greater opportunity to compete with larger, more established firms, despite the substantial initial cost of developing a functioning Web site.

Securities and Commodity Exchanges, Securities Exchanges, Services, Internet, Equipment and supplies, Online services, Internet services, Exchanges, Internet/Web Technology Application

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Vancouver Stock Exchange's floor-trading era ends next month with full computerization

Article Abstract:

Vancouver's stock exchange will end floor-trading in Jan 1990, when it computerizes its stock trading operations. The 82-year-old exchange's 120 equities floor traders will be eliminated as the exchange's $7.3 million computerized system adds the remaining 450 issues by Jan 26. The move will make the Vancouver exchange the first in North America to swap its conventional exchange for a computer-executed trading system. Consultants believe that the Vancouver exchange may recognize the inevitability of change from the traditional way of trading. Most big exchanges in the US have resisted changing. US market specialists fear that their role would be taken over by computers. Other traders say they would miss the push-and-shove of the trading floor.

Information management, Automation, Telecommunications transmission technologies, Vancouver, British Columbia, Reorganization, Data Communications, British Columbia

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Cost of French market's Relit system for back offices draws some critics

Article Abstract:

Relit is a computerized office automation system that works with the electronic trading system in France and fully computerizes the back offices of brokerage houses. Relit is drawing criticism from smaller investing houses that contend the cost is too much, but advocates say the system is essential if Paris is to compete with London in the securities industry. The London Exchange does not have a similar system installed but is watching the French experiment closely. Relit will cut the time of share delivery, and by linking banks' and brokers' back offices to a central clearing house, will be able to check all trades and then match deliveries with payments. The system will begin in Oct 1990 in off-market trading.

France, Office automation, Program trading (Securities), Financial Services, Stock, Electronic Trading System

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