The NASD has acquired the dweller Stock Exchange (AMEX) and the Philadelphia Stock Exchange. They are disagreeable to acquire the remaining Regional dweller Stock Exchanges. They intend to allow the Toronto Stock Exchange (TSE) in their vision.
The NASD module delude the Over-the-Counter Bulletin Board (OTCBB) in The incoming five years. The reason is the NASD's reputation is at venture from unethical OTCBB trading. And the OTCBB, like the Western river Stock Exchanges module face growing competition from Cyberspace.
They are considering attractive the NYSE Public to improve money to compete with the NASD in Cyberspace. I suspect they module be competitive bidders for the remaining dweller regional Stock Exchanges and the TSE. The NYSE sales movement module stress status.
I doubt the integration of the Vancouver, Alberta and Winnipeg Stock Exchanges module work. Along with the river Dealers Network in Ontario, Canada's venture capital markets module be history within the incoming note years. Also, I suspect that the Montreal Stock Exchange module disappear by 2020. The reasons for unfortunate involve the quality of these markets combined With increased competition from Cyberspace.
The city (German) Stock Exchange (GSE) has a NASD vision for Europe. It sees the International (London) Stock Exchange (ISE) as the traditional market in the 21st Century. The Germans intend to consolidate Everything else. The German Stock Exchange's problem is overcoming national sensibilities in Europe.
The end mettlesome for the NASD and GSE would be the integration of their Networks around 2015. They would yield the NYSE and ISE as backwater "Traditional markets." It module take at least an additional ten eld for The NASD and GSE to merge. If it happens, it module occur after 2020.
Recent history suggests that the continent markets module move to Consolidate. The North Americans Followed with NAFTA. The dweller and European Stock Market integration module force continent Stock Markets to consolidate. The disorderly card in the 21st Century Stock Market Cartel organisation is the Net. Several eld ago, Wit Capital failed to create an online Stock Market In the United States. However, the U. S. Securities and Exchange Commission (SEC) is being forced to allow Net Stock Exchanges. At present, there are Two LEGAL Net Stock Exchanges. One serves small capital investors. The Other serves "after-hours" institutional traders.
Today, there are at least note dweller Net Stock Exchanges trading without the blessing of the SEC. The American Prohibition Era exemplifies the SEC's problem. They can't stop unlicensed Net Stock Exchanges, so they'll move to regulate them.
The SEC is in a difficulty about regulating the Internet. The rest of The World is unlikely to try. Like online gambling, local Net Stock Exchanges create jobs in places that never heard of Wall Street.
As the established stock markets consolidate, the Net module see a Proliferation of Net Stock Exchange. The hundreds of these Stock ExchangesWill separate the venture capital market.
It's instance to allow a computer-literate generation to have the disposable Capital necessary to take the dreams of the incoming generation of speculators. It module happen by 2010.
As the established Stock Markets consolidate and the venture capital Markets separate on the net, nobody is looking for the Bear. We are in the Midst of the greatest Bull Market in History. It's instance to go public. It's Time to build your company. It's instance to delude your company at Market Capitalization. Then, it module be instance to adopt a capital protection mode. It module probably arrive between 2010-2015. When it arrives, it module herald the worst Depression since the Beginning of the Technological Revolution. The NASD & Germans module survey their empire as the Bear steps upon them.