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The evolution of european exchanges

Julien Hammerson, head of equities at Instinet Europe Limited, examines the challenges European stock exchanges face as they evolve in an increasingly competitive environment

"In the future, the stock market will not revolve around brokers, or dealers, or specialists. It will not be limited to the physical location, to a trading floor, even to a central database. The stock market of the future will take place wherever individuals access each other to trade securities. A seat in the stock exchange of tomorrow will be any chair in front of a computer with a modem."

This

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