Microexchanges
MicroExchanges are lightly staffed, technology-driven marketplaces that have been enabled by the Internet/WWW which bring together buyers and sellers in key niche commodity markets. The marketplaces closely resemble (but are much smaller than) conventional exchange structures. The aim of a microexchange is to reduce costs, improve returns, and facilitate trading in all sorts of physical and intangible products in financial, equity and commodity products both as underlying or derivatives products.[1]
The term was first coined by , financial innovator and author of various books including "" during a book tour in 2000. Subsequently, the first "Microexchange Manifesto" was published in his 2001 book "" [2] and subsequently updated in "New Capital Market Revolution" published in 2002 [3]
Many Microexchanges have been subsequently founded. Young himself co-founded the a market for Essential Oils in Australia[4] with a public announcement in December 2003 and the initial trading commencing in March 2004.[5]
Microexchanges have also been launched for equity trading such as the [6] and [7]
References[]
- ^ "Handbook Articles".
- ^ "The Promiscuous Investor" by Patrick L Young erivatives.com 2001
- ^ New Capital Market Revolution by Patrick L Young, Texere Publishing 2002.
- ^ Essential Oils Exchange Homepage www.EOEX.com
- ^ Appliederivatives.com Editorial March 2004, "Perfect Competition" http://www.appliederivatives.com/content/content.cfm?ID=72FEECF2-A969-44E9-9E732A00C3168263&SectionID=A350F060-F99C-4982-AAEF7E6EFDCC0F16&IssueID=93558EDA-825B-4F60-8525AA04BE1D55AD[permanent dead link]
- ^ Aruba Exchange Home Page http://www.arubax.com
- ^ Home Page http://www.pacificotc.com/
- Stock market