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Online Securities Trading in China

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This paper looks at the adoption of information technology in the Chinese stock exchanges and. for online securities trading in China. ...

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Online Securities Trading in China Page 1Issues in Informing Science and Information TechnologyOnline Securities Trading in China Michelle W. L. Fong Victoria University Melbourne Australia Michelle.Fong@vu.edu.auAbstractThis paper looks at the adoption of information technology in the Chinese stock exchanges and for online securities trading in China. Because these stock exchanges do not have any major preexisting technology to consider when they automate their operations they are able to adopt advanced technology. However the potential and advantages offer by this technology cannot befully harvested without fundamental structures and proper corporate governance mechanisms in place. Keywords: stock exchange online securities trading securities brokerage firms Internet seamless integration.IntroductionInformation technology is a linchpin to the operation of securities markets around the world. Fully computerized trading facilities are growing in importance in these markets and automation of trading processes through information technology has radically changed the speed of securities trading. Several stock exchange floors on which brokers manually matched orders using an opencry system have been replaced by or are being converted to electronic trading systems. Inthese markets information technology is also being adopted to globalize trading and settlement activities enabling investors to trade in different markets regardless of time and location. For market economies this electronic linkage capability of information technology facilitates the daily flow of capital through markets offering the potential of creating a thriving securities market (Levitt 1989; Malone Yates & Benjamin 1987). Amihud and Mendelson (1989) demonstrated in their study that market liquidity could be enhanced through the proper use of information technology. (Liquidity in securities market refers to the ability to quickly buy or sell a sharewithout causing a significant movement in the pric ...

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Online Securities Trading in China

Filed under: Business and Economy and Stock Trading
This paper looks at the adoption of information technology in the Chinese stock exchanges and. for online securities trading in China. ...