Gerald Putnam is an American businessman. He started Archipelago holdings, an electronic communication network, in 1999; it was acquired by the NYSE for almost $3 billion. Putnam was selected as one of the innovators of 21st century by Time magazine.
Putnam built from scratch a stock and options exchange using only electronic trading. With the passage of Regulation NMS, which mandated that orders to buy/sell equities be executed at the best price...
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Gerald Putnam is an American businessman. He started Archipelago holdings, an electronic communication network, in 1999; it was acquired by the NYSE for almost $3 billion. Putnam was selected as one of the innovators of 21st century by Time magazine.
Putnam built from scratch a stock and options exchange using only electronic trading. With the passage of Regulation NMS, which mandated that orders to buy/sell equities be executed at the best price (no matter what exchange they trades on), the internal workings of an opaque stock market were forced to become transparent and competitive. This transformation caused the NYSE to lose its centuries old monopoly.
ArcaEx was built to instantly look at the Arca exchange for best prices and if not matched then to route to the bourse that displayed the best price. It was exactly this type of algorithmic matching that put ArcaEx into the leadership position in the US.
When Putnam spearheaded Arca's purchase of the Pacific Stock Exchange, he...
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