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4 - FinTech: From Science Fiction to Non-Fiction

Published online by Cambridge University Press:  02 October 2020

Gregory Scopino
Affiliation:
Georgetown University, Washington DC
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Summary

With each passing day, the futures markets continue their transition to largely electronic ecosystems for algorithmic, software robots. The automation of these markets is part of a broader trend in financial services whereby the use of computerized systems is expanding into areas of financial firm operations that had not previously been thought amenable to algorithmic control. That’s not to say that humans are no longer playing important roles in financial services in the markets for futures and other derivatives, but the scope of human roles is diminishing as algo bots become capable of performing more and more tasks that were once the sole responsibility of human traders, derivatives salespeople, risk analysts, and more. As mentioned in the Introduction, the computerization and automation of financial markets is generally associated with the rise of “financial technology,” commonly referred to as “FinTech” or “Fintech.”

Type
Chapter
Information
Algo Bots and the Law
Technology, Automation, and the Regulation of Futures and Other Derivatives
, pp. 175 - 198
Publisher: Cambridge University Press
Print publication year: 2020

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