Publisher's Synopsis
Once upon a time the global capital markets were happily ensconced in a cozy club. The exchanges, the brokers and the pit traders all knew where they fit. Complacency ruled until suddenly, in the later 1990s, everything changed. Digital networks threatened the status quo. Screen-based trading began to "infect" exchanges almost everywhere. And the exchanges themselves were haemorrhaging business to the OTC markets "upstairs".;The impact came devastatingly fast. Even London's LIFFE exchange, the biggest futures market on earth, within a matter of weeks found itself on life support, unable to survive the onslaught from its electronic rival, EUREX. Patrick Young's "Capital Market Revolution" captured it all.;And then, just as suddenly as the revolution had begun, salvation seemed at hand. The dotcom bubble burst and many felt the old practices of the floor-based markets in Chicago and New York could survive and prosper. The revolution seemed to be over. But it wasn't.;In "The New Capital Market Revolution", Patrick Young once again places the world's capital markets under his prophetic microscope and reveals that the revolutionaries are still firmly in control - this time with an even more radical manifesto.;What does the Capital Market Revolution really mean for investors? How does it affect the market professional and the legacy exchanges? Will it lead in the demolition of markets? Patrick Young answers these and many more critically important questions.;This is a revolution where there has been no obvious storming of the Bastille. Rather, digital markets have laid a virtual siege to outmoded practices. A whole new world order of financial markets will be the end result.
