Paper Summary:

In this article, the writer discusses that the forces of globalization and integration have directly affected the securities industry and its markets. The writer maintains that previously independent, national securities markets are becoming increasingly interdependent because of changes wrought by the forces of globalization in three key arenas: technology, competition and regulation. This paper examines all three issues.

From the Paper:

"Globalization seems to be the catchword for changes in financial matters ranging from the mergers of transnational corporations to the price of lemonade sold by third graders on the corner. If there's a problem with economies, globalization is to blame. If an economy is doing particularly well, then the forces of globalization are responsible for the success. In short, globalization has been the easy answer for a lot of economists and business leaders intent on analyzing changes within various marketplaces. Despite the overuse of the term - often by individuals who do not understand how to use it - globalization has been responsible for many of the changes that directly affect the business world."

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