Is the Open Outcry Model Doomed?

Many say the NYSE and CBOT execution models need an overhaul. Will regulatory pressures, the threat of Eurex’s U.S. Futures Exchange--and even their own customers--force them to change their ways?

The gentleman’s debate between proponents of the traditional--if rowdy--pit-and-auction-based exchange models versus those who support fully electronic trading has recently escalated into an all-out war. In October, the New York Stock Exchange (NYSE), the dominant player in the U.S. securities industry