TY - JOUR T1 - Darwinian Forces and the Shape of Things to Come JF - Trading SP - 16 LP - 18 VL - 2007 IS - 2 AU - Jeff Brown Y1 - 2007/09/21 UR - http://guides.pm-research.com/content/2007/2/16.abstract N2 - If electronic trading has begun to sound the death knell for the traditional open-outcry marketplace, the change thus far has come not in a swift, revolutionary coup, but more as part of a steady, evolutionary process – a development driven as much by advancements in technology and regulation as by the industry's relentless search for liquidity and best execution. In a global marketplace whose structure is becoming increasingly complex and fragmented by the day, virtually all market participants are finding themselves rethinking their business models and trading strategies just to stay ahead of the curve. ER -