Electronic Trading: Portal to the future

Although technological advances are moving stock markets toward a completely electronic environment, some experts see a continuing need for human intervention. As nobody has yet invented a fully automated trading system that can tap hidden liquidity—the big buy or sell orders that institutions cannot post publicly for fear of moving the market—specialists will probably continue to play a role in the market for some time to come. The evolution of electronic trading and its implications for the specialist system are discussed.

Millman, G. (2005). Electronic Trading: Portal to the Future?. Financial Executive, 21(3), 36-40. Retrieved from OmniFile Full Text Select database.