Wednesday, April 27, 2005
Whate is the real worth of an Exchange ??
So, we are seeing major consolidation among exchanges. This was entirely expected.
The only reason most exchanges exist now is because of outmoded regulation and good old fashioned pride.
Bank and exchange consolidation will continue almost ad infinitum.
I'd argue that the value of an exchange will continue to consoidate until it's
fair value is realized: a client front ent, rented server space at a server farm
and a few tech head consultants. IBM at its ISM division in Ontario runs exchanges already.
After all, what programmer worth his salt in java has not written a client server
application that does an online auction ?? It is easy.
