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Evolution of online financial trading systems: assessing critical end-user requirements

Published: 10 March 2006 Publication History

Abstract

Over the past few years, different online stock brokers have developed a wide variety of web-enabled financial trading systems. End-users of the systems, the stock investors and traders, have been given a choice what online trading system they prefer using, weighing in commission cost and the online research capabilities they pay for when analyzing stocks and mutual funds. After years of assessing online trading systems, it appears that end-user requirements have substantially changed with the evolution of financial markets. Low commission cost and research capabilities are now standard packages available across different online trading systems and are not the competitive features they once were. This research initiative intends to find out evolving end-user requirements for online trading systems and what has been done by systems developers to improve financial trading systems. This research involves the testing and use of three different online trading systems to assess how these systems are addressing end-user requirements.

References

[1]
Business Wire, "Island ECN Surpasses American Stock Exchange to Become Largest Marketplace in QQQs", Oct. 22, 2001
[2]
Cadway, R. P., New Daytrading Rules, 2001. http://www.princetondaytrading.com/newsletter-princeton/NL-9-31-2001.html
[3]
Macey, J., and M. O'Hara, 1997, The Law and Economics of Best Execution," Journal of Financial Intermediation 6, 188--223. 1997
[4]
Tabb, L. "Perspective: Time for Brokers, Investors, and Regulators to Align", Wall Street and Technology, published by InformationWeek Media Network, 2004
[5]
Yap, A. and Lin, X., Entering the Arena of Wall Street Wizards, Euro-brokers, and Cyber-trading Samurais: A Strategic Imperative for Online Stock Trading, Electronics Market Journal, Vol. 11 No. 3, Switzerland, 2001.
[6]
http://www.buyins.net/
[7]
http://www.dogsofthedow.com

Cited By

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  • (2014)Single case research method to understand user experience in online stock braking2014 3rd International Conference on User Science and Engineering (i-USEr)10.1109/IUSER.2014.7002680(74-78)Online publication date: Sep-2014
  • (2012)The Persisting Human Element of the Electronic Trading HabitInformation Systems for Global Financial Markets10.4018/978-1-61350-162-7.ch011(271-284)Online publication date: 2012

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  1. Evolution of online financial trading systems: assessing critical end-user requirements

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      cover image ACM Other conferences
      ACMSE '06: Proceedings of the 44th annual ACM Southeast Conference
      March 2006
      823 pages
      ISBN:1595933158
      DOI:10.1145/1185448
      Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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      Association for Computing Machinery

      New York, NY, United States

      Publication History

      Published: 10 March 2006

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      Author Tags

      1. electronic markets
      2. electronic trading systems

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      ACM SE06
      ACM SE06: ACM Southeast Regional Conference
      March 10 - 12, 2006
      Florida, Melbourne

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      ACMSE '06 Paper Acceptance Rate 100 of 244 submissions, 41%;
      Overall Acceptance Rate 502 of 1,023 submissions, 49%

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      View all
      • (2014)Single case research method to understand user experience in online stock braking2014 3rd International Conference on User Science and Engineering (i-USEr)10.1109/IUSER.2014.7002680(74-78)Online publication date: Sep-2014
      • (2012)The Persisting Human Element of the Electronic Trading HabitInformation Systems for Global Financial Markets10.4018/978-1-61350-162-7.ch011(271-284)Online publication date: 2012

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