Several factors help to explain the explosion in program trading. Technological advances spawned the growth of electronic communication networks. These electronic exchanges, like Instinet and Archipelago Exchange, allow thousands of buy and sell orders to be matched very rapidly, without human intervention.
In addition, the proliferation of hedge funds with all their sophisticated trading strategies have helped drive program-trading volume.
As technology advanced and access to electronic exchanges became easier and faster, program trading developed into the much broader algorithmic trading and high-frequency trading strategies employed by the investment banks and hedge funds.
Read more about this topic: Program Trading
Other articles related to "history":
... has been seen in almost every society in history ... Ancient Greeks and Romans to Napoleon's France and Elizabethan England, much of history is filled with stories of entertainment based on games of chance ... In American history, early gambling establishments were known as saloons ...
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... The Skeptical School of early Chinese history, started by Gu Jiegang in the 1920s, was the first group of scholars within China to seriously question the traditional story of its early history "the later the time ... early Chinese history is a tale told and retold for generations, during which new elements were added to the front end" ...
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