An analysis of the number of media allowed us to reveal an interesting trend - the world's leading stock exchanges continues restructuring technological processes to trades aimed at the development of fundamentally different functional environment global stock market that identify and manage potential crises on the world market, and, if necessary, shaping the conditions for the occurrence of such crises.
It is about the creation of the technical possibilities for work on the stock market in real time with significant reduction in costs for certain transactions. Technically this strategy is implemented by creating a high-performance electronic stock exchanges.
In 2006 the research centers of the American Corporation IBM has conducted a series of studies aimed at studying the main directions of transformation of the global stock market (details can be read here). Main objective of the research was to identify the key factors that affect the behavior of global stock market. The identification of such factors should have been sufficient, in the opinion of the experts at IBM, the leadership of American investment companies on the world stock market by advanced study and consideration in the strategy of development of fundamentally new trends that will have a fundamental impact on the stock market in the future. Among the factors identified, a key constraint was the time factor - the ability to assess the situation and to trade on the stock market in real time.
As the development of subsequent events, the elements of IBM's strategy of transformation of the stock market are implemented in practice.
The first was the leading American stock exchange the NYSE (new York stock exchange), which in 2006 acquired the Chicago electronic exchange Archipelago Holdings. In subsequent years, the NYSE has engaged in improving the technology of e-Commerce, bringing the pace of transactions to real-time. The second American NASDAQ stock exchange (originally created as an electronic exchange), in recent years has significantly expanded its activities, having moved to Eastern Europe, Scandinavia and the Baltic States, having bought the appropriate national exchange.
Implementation of IBM's strategy allowed U.S. exchanges at the beginning of the crisis of the global monetary system to get advantage over European and Asian trading platforms. The ability to assess the situation on the market and make transactions significantly faster than competitors, enabled the Americans to gain supremacy in the information space is to achieve the so-called information dominance.
The response from the European and Asian stock exchanges followed only in recent months, when markets began to emerge from a protracted crisis.
So, in December 2009 it became known that the London stock exchange LSE purchased the electronic exchange Turqouise. Turqouise was established in 2007 by leading global banks UBS, Morgan Stanley, Goldman Sachs, Credit Suisse, BNP Paribas, Societe Generale, Deutsche Bank, Merrill Lynch and Citigroup. Purchasing Turqouise allows LSE to work at the pan-European market, which, until recently, was not one of the major European exchanges. Finally the deal about buying Turqouise must be closed in February 2010 In January 2010 the same year it also became known that the Tokyo stock exchange (TSE), the second in the world by market capitalization of the companies listed on this site, launched January 4, new super-fast system, which is 600 times faster than the previous one. The implementation of this project allowed the TSE to reach a technological level with the stock exchanges in new York and London. According to experts, now on the TSE require 5 milliseconds for the adoption order to the deal and three milliseconds to provide information about changes in the market. The new system is called Arrowhead. In its creation, the exchange has invested 13 billion yen (140 million dollars). Developed a system of Fujitsu.
The above evidence suggests that in the near future to continue the development of the market of new ultra high performance systems enabling to assess the situation and make a decision on transactions on stock and currency markets in real time, which will translate the competition of the global financial elite in the millisecond range trading.
Existing today in Russia exchange technologies and the entire infrastructure of the Russian stock market does not allow to work in this time scale. This leads to catastrophic consequences for the Russian stock market, which are simply unable to track and account for those changes in the world market. The Russian stock market is clearly inferior in information confrontation that unfolded in financial and economic sphere. This in turn leads to significant losses of the economy, which was demonstrated in the active phase of the crisis in summer and autumn 2008.
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