Euronext.liffe, a derivatives trading exchange, had just finished rolling out three new services targeted at the over-the-counter (OTC) market in 2004. The services offered automated confirmation and clearing for OTC equity derivatives. Yet, developments in the industry seemed to call for a re-evaluation of the exchange's OTC strategy. Describes the exchange and OTC markets for derivatives, Euronext.liffe's existing OTC services, and the other key market participants in 2004. Provides the information needed to evaluate the exchange's existing OTC services and consider other ways in which the exchange could create value for the industry.
Euronex.liffe, a derivatives trading exchange, launches matching, clearing, and confirmation services for the over-the-counter market. This combination of services creates a new platform for a market that potentially cannibalizes its current exchange-based services. Is this good idea? Does the design of this new combination of services make sense? Is it the best positioned among other exchanges and services to the derivatives trading market to launch this new platform?
Discusses the impact of the Internet on the music industry from 1990 through 2003. Discusses the technology, new business models, and record companies' moves. Provides the necessary background to discuss such matters as well as to assess the strategies of the five major record companies--Sony, BMG, Warner, EMI, and Universal. Ends with the question of whether the music industry will survive and with arguments from both camps.
Reviews the competition between stock markets, specifically the New York Stock Exchange and NASDAQ, as it plays out both in the United States and internationally. The competition between the two exchanges is interesting because of technological developments and the globalization of capital markets.