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The emergence of electronic trading in global financial markets: envisioning the role of futures exchanges in the next millennium

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  • Scott, Susan V.

Abstract

This paper describes our case study based research exploring the shift from traditional ‘open-outcry’ to electronic trading in the major futures Markets in London and Chicago. We outline the emergence of electronic trading in these Markets, with the aim of examining the influences that will shape the operation and interaction between major global futures exchanges in the electronic markets of the new millennium. Our empirical work has sensitised us to the usefulness of conceptual ideas on the local/global dialectic in the process of globalisation, and the shifting nature of risk in analysing the emergence of electronic trading in major global futures markets. In our discussion of the current status of the project we seek to connect the local issues concerning electronic trading to their broader social, economic and political context. We conclude by suggesting how our findings can be expected to contribute to IS theory and practice.

Suggested Citation

  • Scott, Susan V., 1999. "The emergence of electronic trading in global financial markets: envisioning the role of futures exchanges in the next millennium," LSE Research Online Documents on Economics 37872, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:37872
    as

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    File URL: http://eprints.lse.ac.uk/37872/
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    References listed on IDEAS

    as
    1. Andrew M. Pettigrew, 1990. "Longitudinal Field Research on Change: Theory and Practice," Organization Science, INFORMS, vol. 1(3), pages 267-292, August.
    2. J. Yannis Bakos, 1997. "Reducing Buyer Search Costs: Implications for Electronic Marketplaces," Management Science, INFORMS, vol. 43(12), pages 1676-1692, December.
    3. Chow, Edward H. & Lee, Jie-Haun & Shyy, Gang, 1996. "Trading mechanisms and trading preferences on a 24-hour futures market: A case study of the Floor/GLOBEX switch on MATIF," Journal of Banking & Finance, Elsevier, vol. 20(10), pages 1695-1713, December.
    4. Wanda J. Orlikowski, 1992. "The Duality of Technology: Rethinking the Concept of Technology in Organizations," Organization Science, INFORMS, vol. 3(3), pages 398-427, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    interpretivist perspective; computers and society; globalization of IS; financial sector; organizational change;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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