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Jason Pociask wrote:
>
> There already are several electronic systems that trade after
> hours: GLOBEX, Project-A, ACCESS, and so on. In Germany and Sweden,
> most of the stock index futures and options trading is electronic.
> I think beyond the unwillingness of the exchanges to lose franchise,
> there are some kinds of orders that don't translate well to electronic
> systems. Also you get a degree of exposure of your intentions with
> resting orders that big players might not find acceptable. Another
> thought is that making a market in an electronic system might be
> tougher than with floor locals, who can size up the pit with one glance
> at the action and decide whether to step in or not, I don't know
> if an electronic system would provide enough feedback that people
> would want that liquidity providing role to the same extent.
>
> -jp
In spain either the stock market and the futures & options market are
electronic.... The futures market is electronic since its beginning in
the early 90's and the stock market changed to be electronic in the
'89... and works fine... some brokers accepts you to put stops and are
put directly to the market....
I think there is a very important market in Europe which is also
electronic, the futures market of London, the LIFFE or the stock
market... one of both, now I'm not very sure....
Best wishes from Barcelona
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