The Securities Markets

T he structures of the markets in which securities trade has changed and is changing—for the better. These changes facilitate the movement of capital and speed up the movement of information, thus enhancing the measurement of risk. The numeric term 24/7 was introduced just in the past century. It is understood throughout the global markets as the new paradigm for the capital markets: 24 hours of trading, 7 days a week. All these changes have created wider opportunity for price transparency and better execution of transactions. Better execution enhances that feature of capital markets about which you should be most mindful: liquidity .