An overview of online stock trading: history, characteristics, opportunities, challenges and the impact of the SEC regulation reform on trading structure

Authors:
Haroun Alryalat;Yogesh Kumar Dwivedi;Jasna Kuljis;Ray J. Paul;Mahmood Shah
Affiliations:
School of Information Systems, Computing and Mathematics, Brunel University, West London, UK.;School of Information Systems, Computing and Mathematics, Brunel University, West London, UK.;School of Information Systems, Computing and Mathematics, Brunel University, West London, UK.;School of Information Systems, Computing and Mathematics, Brunel University, West London, UK.;CUSOM, Cranfield University, Cranfield, Bedfordshire, UK
Venue:
International Journal of Business Information Systems
Year:
2007

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Abstract

This paper discusses the impact of US Securities and Exchange Commission (SEC) regulation reform on online and traditional trading structures. The aim is to provide a review of relevant issues within online stock trading and subsequently form a research agenda. To achieve this aim the following objectives are set: (1) to describe the current state of online trading, (2) to provide an overview of Electronic Communications Networks (ECNs) and existing regulations and (3) to discuss the impact of SEC regulation reform on trading structures. In doing so this paper will provide insights into how ECNs are used and how their growth and development are affected by the SEC regulation reform.