A Brief History of Electronic Trading

From the paper blizzard 50 years ago when average daily volume on the New York Stock Exchange was 14 million shares to today's "slow" market, when 6 billion shares are traded each day, at a thousandth of a blink of an eye.


SOURCES: Financial InterGroup, SIFMA, Tabb Group, IBM, Ordex Systems, Tellefsen & Co., STM Research

‘60s: Paper Crisis ‘60s: First Automated Trading System 60s: Institutional Networks Formed
‘60s: Computers and Communications Married ‘70s: Quotes Get Automated ‘70s: CATS’ Meow 70s:  Worldwide Market Awareness
‘80s: Ability to ‘Tolerate’ Failure ‘80s: Data Managed ‘In Memory’  ‘80s: Three-Second Trades ‘80s: Internet Arrives
‘80s: Crash ‘80s: Fast Feeds ‘90s: The Future of Futures ‘90s: Risks Get Simulated
 ‘90s: Online Stock Trading Arrives ‘00s: Multi-Core Processing ‘00s: Volumes Boom ‘00s: Volatility Accelerates
‘10s: Flash Crash ‘10s: Fragmentation in Full Force ‘10s: Microseconds Rule ‘10s: Repeated Disruptions
‘10s: Technical Limits

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