Abstract
The growth rate in futures volume has leveled off worldwide, and the market share of the U.S. exchanges has declined. In a period of limited growth, the competition for market share between the open-outcry exchanges and their competitors—the OTC market and the electronic trading systems—will intensify. Market share will be determined by which trading system offers participants the lowest transaction costs. During the next decade, technological innovations will determine the long-run viability of the exchanges.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
