The Net Strategic Impact of Technology on the Business of Securities Trading

Abstract

To conclude this section on the strategic response of broker-dealers to this unprecedented wave of technological change, we will review the net effect of technology on securities houses’ traditional lines of business: market-making, its dependent, proprietary trading, as well as institutional brokerage and corporate treasury business. The critical factors for success in the new environment and the positioning options available to larger and smaller players respectively are identified as well as the emerging competitive environment.