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Proceedings of the Twenty-Second Annual Hawaii International Conference on System Sciences. Volume IV: Emerging Technologies and Applications Track (1989)
Kailua-Kona, HI, USA
Jan. 3, 1989 to Jan. 6, 1989
ISBN: 0-8186-1914-7
pp: 233-242
E.K. Clemons , Wharton Sch., Pennsylvania Univ., Philadelphia, PA, USA
B. Weber , Wharton Sch., Pennsylvania Univ., Philadelphia, PA, USA
ABSTRACT
The London Stock Exchange's Big Bang on October 27, 1986, which marked the arrival of sweeping and long-awaited deregulation is discussed. Numerous changes occurred simultaneously, including elimination of fixed commissions, marked increase in the number of market participants, change in the structure and ownership of trading firms, and perhaps most importantly rapid movement of stock trading off the floor of the Exchange. This remains the most rapid and complete regulatory reform of any market, and the most striking example to date of a regulatory event engineered to benefit the local financial industry. It is shown that London's financial markets have undergone considerable change while continuing to operate smoothly, and the benefits realized are described.<>
INDEX TERMS
financial data processing, social aspects of automation, stock markets
CITATION

E. Clemons and B. Weber, "London's Big Bang: a case study of information technology, competitive impact, and organizational change," Proceedings of the Twenty-Second Annual Hawaii International Conference on System Sciences. Volume 1: Architecture Track(HICSS), Kailua-Kona, HI, USA, , pp. 233-242.
doi:10.1109/HICSS.1989.48126
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