Rise of the Machines
TRADING TECHNOLOGY
Red suspenders and pinstripe suits may never go out of fashion in the City of London, but what about the traders who wear them? A white paper from IBM Global Business Services reports that by 2015, 90 percent of current City traders will have been replaced by black boxes.
The white paper, entitled "Tackling Latency: The Algorithmic Arms Race," compares the modern trading environment to a gunfight: "The lone gun-slinger of the open-outcry trading floors is rapidly being replaced by ultra-fast
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