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Description of The New Capital Market Revolution

Once upon a time the global capital markets were happily ensconced in a cozy club. The exchanges, the brokers and the pit traders all knew where they fit. Complacency ruled until suddenly, in the later 1990s, everything changed. Digital networks threatened the status quo. Screen-based trading began to "infect" exchanges almost everywhere. And the exchanges themselves were haemorrhaging business to the OTC markets "upstairs". The impact came devastatingly fast. Even London's LIFFE exchange, the biggest futures market on earth, within a matter of weeks found itself on life support, unable to survive the onslaught from its electronic rival, EUREX. Patrick Young's "Capital Market Revolution" captured it all. And then, just as suddenly as the revolution had begun, salvation seemed at hand. The dotcom bubble burst and many felt the old practices of the floor-based markets in Chicago and New York could survive and prosper. The revolution seemed to be over. But it wasn't.
In "The New Capital Market Revolution", Patrick Young once again places the world's capital markets under his prophetic microscope and reveals that the revolutionaries are still firmly in control - this time with an even more radical manifesto. What does the Capital Market Revolution really mean for investors? How does it affect the market professional and the legacy exchanges? Will it lead in the demolition of markets? Patrick Young answers these and many more critically important questions. This is a revolution where there has been no obvious storming of the Bastille. Rather, digital markets have laid a virtual siege to outmoded practices. A whole new world order of financial markets will be the end result.

Title Information

ISBN:

9781587991462

Pages:

224 pages

Format:

Hardback

Product Code:

15820

Publisher:

Texere

Published:

08/03/2003

Edition:

2nd Edition

Press and Industry Reviews

"Another gem from Patrick Young. The New Capital Market Revolution provides valuable insight into an industry in transition. Intellectually strong and highly readable. A must for members of the international derivatives community." --Dr. Richard Sandor, Chairman and CEO, Environmental Financial Products LLC, Research Professor, Kellogg Graduate School of Management, Northwestern University

"If you have learnt how the capital markets work -- forget it -- it has all changed. Patrick Young gives a clear insight into this Machiavellian world where tradition can be as old as this morning." --Justin Urquhart Stewart, Director, Seven Investment Management

"Further insightful work from PLY, that reminds those who survived the first (primarily technology) wave of the revolution that they should not become complacent. The waves that follow will be equally dramatic, but to those who are alert, they will abound with opportunities." --Patrick Birley, former CEO, The South African Futures Exchange

"Patrick Young has produced another thought-provoking analysis of the markets. Whether you agreed or disagreed with Patrick Young's last book, you will want to read The New Capital Market Revolution. His analysis is straightforward and easily understood." --Dennis Dutterer, CEO of the Board of Trade Clearing Corporation

"Whether you like it or loathe it, nobody can afford to ignore Patrick Young's unique analysis of the capital markets." --David Hardy, Chief Executive, London Clearing House

". . . bang up to date, prescient and ruthless. No broker, trader or exchange official will fall asleep over this book -- they will lie awake -- worrying." --Sir Brian Williamson, Chairman, Euronext LIFFE

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About Patrick Young

A professional trader, Patrick Young is founder of erivatives.com a free, controversial and global online magazine devoted to tradable markets with 30,000 readers in 130 countries. The original online origins of erivatives came into being in 1994 - it the early stages of the Web, with a remit to providing thought-leading analysis of financial markets. His financial career began in the late 80s with a leading global money broker (Tullett and Tokyo) where he eventually became head of exchange traded options and technical analysis. He subsequently traded independently on the London International Financial Futures and Options Exchange (LIFFE) for several years. Patrick has been a regular conference speaker for many years across the world. He is chairman of the blue riband 'Crossfire' panel at the Burgenstock derivatives conference in Switzerland and is a regular chairman for various briefing sessions and product roadshows. He gives an annual lecture at the INSEAD Business School in France. Patrick was born in Ireland but he lives in Monte Carlo, Monaco and maintains a passion for classic cars.

Contents of The New Capital Market Revolution

1. The death of open outcry
2. The new reality
3. Teaching old dogs new tricks
4. The perils of transition
5. New management for the new reality
6. Power to the people
7. The new meritocracy
8. The micro banking manifesto
9. Living with the revolution