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Anyone reading the business section of a newspaper lately knows that the financial exchanges--stock, bonds, FX, commodities, and so forth--are undergoing tremendous transformations. Fund managers, market makers, traders, exchange professionals, marekt data providers and analyzers, investors--anyone involved with the financial exchanges needs to understand the major forces pushing this transformation in order to position themselves and their institutions to the best advantage. In this book, veteran exchange expert Michael Gorham joins his twenty-five years of experience with CME and CBOT to the…mehr

Produktbeschreibung
Anyone reading the business section of a newspaper lately knows that the financial exchanges--stock, bonds, FX, commodities, and so forth--are undergoing tremendous transformations. Fund managers, market makers, traders, exchange professionals, marekt data providers and analyzers, investors--anyone involved with the financial exchanges needs to understand the major forces pushing this transformation in order to position themselves and their institutions to the best advantage.
In this book, veteran exchange expert Michael Gorham joins his twenty-five years of experience with CME and CBOT to the technical expertise of Nidhi Singh of Goldman Sachs to write a book that tells the story of this dramatic transformation. They chronicle the shift:
--from floors to screens
--from private clubs to public companies, and
--from local and national to global competition.
They analyze each of these shifts, identify the drivers behind them and look forward to the implications arising out of them for exchange business in the future. They also explore several key trends:
--an increase in product innovation
--the integration of markets from all over the world onto a single screen,
--the rise of the modular exchange
--the outsourcing of various exchange functions, and
--the difficulty of transcending geography for regulatory purposes.
So join Gorham and Singh in learning the story of this fundamental transformation. As old ways of working are being destroyed, entirely new types of jobs are being created, and new ways of working with exchanges. This book will help you chart the way forward to financial success.
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Autorenporträt
Michael Gorham is Industry Professor and Director of the IIT Stuart Center for Financial Markets at the Stuart School of Business in the Illinois Institute of Technology. He serves on the board of directors for two exchanges - the CBOE Futures Exchange and the National Commodity and Derivatives Exchange of India. He also serves on the Business Conduct Committees of the Chicago Mercantile Exchange and the National Futures Association and the editorial boards of the GARP Risk Review and of Futures Industry magazine.
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"Gorham and Singh have expertly sewn together the history of exchanges characterized by four words -- transformation, competition, demutualization and globalization. For both history buffs and those looking toward what the future may hold, Electronic Exchanges is well worth the read." --William J. Brodsky, Chairman & CEO, Chicago Board Options Exchange

"Michael Gorham and Nidhi Singh have done a wonderful job. Electronic Exchanges is very informative and pretty much dead spot on." --Harris Brumfield, CEO, Trading Technologies

"A thoroughly entertaining insight as to how we got to where we are today from a point where many of us started in this industry. Not only the what and when, but an enlightened rendition of the why." --John McPartland, A key figure in Chicago Finance

"This is a wonderfully readable account of the way exchanges have evolved over the years and are continuing to evolve. Strewn with anecdotes, data and analytics, this book brings alive in a vivid and meaningful way the remarkable changes in the world of exchanges. An important book for both the lay reader and the practitioner." --Ravi Narain, CEO, National Stock Exchange of India

"The history behind and transformation of exchanges is one of the most colorful components of the financial space. Authors Gorham and Singh have done a great job of catching that color in a form that will be appreciated by the novice as well as exchange veterans. Excellent work and a must read for anyone involved in financial markets." --James E. Newsome, PhD, Board of Directors-CME Group
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