Capital Market Revolution: The Future of Markets in an Online World Book

"Reform or die" is the bottom line according to author Patrick Young. At the dawn of the cyber age, the onslaught on traditional financial markets is underway and there is no place for Luddites. In the author's vision: "electronic trading will transform every global market, every government and affect every strata of society." Capital Market Revolution provides a thorough analysis of the move to electronic markets and its repercussions throughout the financial world. The book takes a logical approach, beginning with a diagnosis detailing the problems of existing markets before delivering a prognosis for the future of e-markets. Young examines the consequences for the whole micro to macro spectrum, right from the individual broker and trader to exchanges, governments and entire nations. He contends that e-trading is creating a more level playing field, evidenced by the emergence of day trading. Despite his obvious enthusiasm, however, he does address the problems of electronic trading such as the issues of transparency and order manipulation. With its descriptions of the personalities and antics of those involved, Capital Market Revolution has a novel-like appeal, and quotes from industry gurus create the semblance of an ongoing dialogue. Interspersed with anecdotal trading floor stories, Chapter 4 is particularly amusing and insightful. In addition to those with financial and technical backgrounds, this book will appeal to anyone interested in the dynamics of change. Technophiles will feast upon it; technophobes will find it a highly disturbing experience. --Neelam DonghaRead More