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7 - Rabbits Guarding the Lettuce

Published online by Cambridge University Press:  03 May 2019

Juan Pablo Pardo-Guerra
Juan Pablo Pardo-Guerra
Affiliation:
University of California, San Diego
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Summary

This chapter traces the development of the National Market System in the United States as an opportunity to explore how infrastructures are shaped by national, institutional, and personal politics. By looking at the role of the NYSE and its technologists in guiding the structure of securities trading in the United States, the chapter stresses the contingent character of market technologies. In addition, it signals the unpredictable surprises that derive from infrastructures: in closing, the chapter shows how efforts to contain trading on the floor of the NYSE led to the emergence of automated and high frequency trading in the mid 2000s.
Type
Chapter
Information
Automating Finance
Infrastructures, Engineers, and the Making of Electronic Markets
 , pp. 248 - 300
Publisher: Cambridge University Press
Print publication year: 2019

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