Changes in Information Technology

Paper Summary:

The IT changes in the discount brokerage industry have been enormous over the 1995-1999 period. In response to this rapid technological advancement, the number of discount brokerages has multiplied with several hundred now active in the market. Investors are becoming increasingly price conscious and there is great pressure on technology to reduce transactions costs and the time it takes for investor's bids to reach the trading floor. Those with the most advanced technology will dominate the market. Information technology, therefore, is perhaps the most critical success factor and, more than this, it is guiding the development of the entire brokerage industry. This study takes a Work Centered Analysis (WCA) approach to the key IT changes made over the 1995-1999 period.

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