Historically the investment banking community has been slow to automate its administration functions. To take theUKas an example, prior to the ‘Big Bang’ in October 1986 share trading took place within the confines of what has often been described as a ‘cosy honourable gentleman’s club’. With a limited number of jobbers (market makers) and brokers executing trades through the physical exchange of paper slips on the stock exchange floor, transaction volumes were limited by the constraints of the trading mechanism. Add to this the fortnightly account period for settlement which entailed the physical exchange of stock certificates and stock transfer forms for banker’s drafts, one can see this was not a business that readily lent itself to computerization. [download]
Format : Ebook.Pdf
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