The move to Exchange 4.0 is well underway, with profound implications for financial markets.
Forward-thinking firms are already positioning themselves for a DLT-fuelled future. But behind the buzzwords, there are lingering questions. What benefits will digitalisation bring, both to trading venues and the market participants they serve? What are
the main obstacles to Exchange 4.0, whether they stem from outdated thinking or misaligned stakeholder incentives? And what sort of step-changes can we expect as digitalisation takes off?
I summarise the key highlights and perspectives from virtually every stakeholder group involved in the trend towards digitalisation along with my own views.
Introducing Exchange 4.0
Just as the world is experiencing a fourth industrial revolution, sometimes called 4IR, financial exchanges are beginning their own technological revolution. The 4IR concept is the driving force behind the Internet of…