What are some of the important changes on Wall Street since the 1997 edition of Wall Street Words?
Lots of changes have taken place, even though the fundamentals of investing remain unchanged. For example, firms continue to introduce new investment products, including new types of preferred stock, new types of debt instruments, and new types of investment accounts. There have also been a number of institutional changes as dealers and exchanges compete for business. One of the major changes is that stock prices are now quoted in decimals rather than fractions. Of course, new buzzwords continue to be introduced, while some once-popular terms are seldom used. Q) What are some of the important institutional changes? A) Electronic communications networks (ECNs) have captured an increasing share of trading volume, while several of the traditional exchanges struggle to stay afloat. Improvements in communications have had a major impact on how information is disseminated. Major institutional changes have occurred in Canada and Europe as well as in the United States. Q) What has been the eff
