Advances in technology are listed by a number of commentators as the primary reason for the rapid change in the securities industry over the past few years. The speed of communication, the substitution of the electronic entry for the piece of paper, the ability to search files and make calculations at astonishing speeds have all led to more efficient use of manpower and to a far greater internationalisation. It is tempting to take the great leap forward and look to the totally electronic office of the future, without too much regard for the timescale of such an event or of the problems which have to be solved on the way. In this chapter I would prefer to look at the steps which must be taken to ensure that the ‘Big Bang’ explodes with minimal damage to the market and its participants, and to leave the crystal gazing about the long term future to the final chapter of this book.
KeywordsStock Exchange Security Industry Account Holder Back Office Electronic Fund Transfer
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