PT  - JOURNAL ARTICLE
AU  - Perrine Fiorina
TI  - Global Securities Exchange Landscape
AID  - 10.3905/jot.2008.700221
DP  - 2007 Dec 31
TA  - The Journal of Trading
PG  - 25--28
VI  - 3
IP  - 1
4099  - https://pm-research.com/content/3/1/25.short
4100  - https://pm-research.com/content/3/1/25.full
AB  - The securities exchange landscape is undergoing a series of major structural changes, due largely to demutualization, consolidation, and competitive threats from alternative trading systems. The 12 major exchanges are all demutualized organizations in terms of revenues, and only four of them are unlisted companies. Increased competition between securities exchanges, ATSs and broker-dealers could incite exchanges to offer more services to their customers and reduce trading tariffs. The trend of consolidation in the securities exchange industry will continue in the near future because it represents a means of achieving revenue and cost synergies towards expanding trading activities, attracting more listings, and diversifying revenues sources.TOPICS: Exchanges/markets/clearinghouses, financial crises and financial market history