Trading Technology on the Comeback Trail

BEFORE THE SPIN

The events of the past week are suddenly validating what I have been preaching about for the last year. While I cannot yet declare the death of the conventional wisdom that technology no longer matters when it comes to competition among trading firms, I am happy to drill the first nail in its coffin.

A quick glance at this week’s Page One stories will serve as the latest evidence that technology has made a comeback. The American Stock Exchange is in a life-or-death battle and the quality of its

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