Editor's Letter

WATERS SPECIAL REPORT

In a not-too-distant future, school children visiting the history museum might find themselves viewing the artifacts of extinct professions, such as lamplighters, spats makers and, quite possibly, the equity trader.

Although most IT people chuckle uncomfortably when someone suggests that automation might eventually displace traders, let's be frank—there are already major rumblings of this happening in the front offices. Industry analysts at TowerGroup estimate that within two years, the

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