Mercado Financiero

The Organization of the Security Markets The structure of the security markets has changed drastically in the last years of the 20th century and the beginning of this century, and it is expected to continue evolving into global electronic markets. These... More

The Organization of the Security Markets The structure of the security markets has changed drastically in the last years of the 20th century and the beginning of this century, and it is expected to continue evolving into global electronic markets. These changes include mergers or alliances between exchanges, the transformation of member exchanges into public companies, and the elimination of trading on the exchange floor. Other changes such as decimalization of price quotes have impacted the efficiency of the markets and their profitability. Many of the changes are being driven by technology, which is creating low-cost competition for the traditional markets such as the New York Stock Exchange. In this section we present the current organization of the markets and provide updates on significant events of the last few years. Historically, the markets have been divided into organized exchanges, which were floor-traded auction markets conducted by brokers, and over-the-counter market Less