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After that Grew dim also the Chamber of commerce should make merge. In my opinion, other way to stand in competitive struggle at these two stock exchanges is not present. There is a hope glimmer that any form of the union between stock exchanges is possible. In December, 1998 Grew dim also the Chamber of commerce have agreed to enter in interests of the firms-members cross it and incorporated bank service. Though it is too far from full merge, but it is a step to cooperation which can lead in due course to closer bonds.It is necessary for these stock exchanges to modernise and improve the systems of delivery of orders. Expanded use of computer input of orders and portable - devices for brokers in
POLICY it AND THE FJUCHERSKY STOCK EXCHANGE-195 Holes not only will accelerate delivery of orders, but also will provide to clients the big anonymity. At use of the portable computers connecting clients with brokers on a floor, the broker it is not necessary to worry that the order of its client will be intercepted at the moment of its transfer to a hole by a signal of hands. At introduction of bilaterial trade on the majority of future contracts if not on all from them, the decision remains for the client. Under each transaction the client behind the computer can make the decision, whether it is necessary to execute transactions through electronic system or by means of open barracking. In due course the market will move in that direction in which there is a liquidity change.
To realise the given change at traditional stock exchanges what are Grew dim also the Chamber of commerce, individual members of these stock exchanges should undertake certain efforts. When we deal with electronic trading, we cannot listen only to that speaks us our management. On the one hand, each of us bears responsibility for an own life. Even cynics available among us notice that in the past our leaders from time to time pursued a policy, with which we categorically disagreed. Therefore it is no wonder that we did not hear from lips of our long-term leaders anything concerning electronic trading. Perhaps, the message about which inevitability the management knew but to follow to which did not want, for traditional future stock exchanges an ominous omen? Or, probably, ordinary structure of a stock exchange — brokers and traders — does not wish anything to hear, as is too keen on protection of own privileges.
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