Electronic Value Exchange

Electronic Value Exchange examines in detail the transformation of the VISA electronic payment system from a collection of non-integrated, localized, paper-based bank credit card programs into the cooperative, global, electronic value exchange network it is today. Topics and features: provides a history of the VISA system from the mid-1960s to the early 1980s; presents a historical narrative based on research gathered from personal documents and interviews with key actors; investigates, for the first time, both the technological and social infrastructures necessary for the VISA system to operate; supplies a detailed case study, highlighting the mutual shaping of technology and social relations, and the influence that earlier information processing practices have on the way firms adopt computers and telecommunications; examines how “gateways” in transactional networks can reinforce or undermine established social boundaries, and reviews the establishment of trust in new payment devices.

The volume of payments handled electronically has increased dramatically in recent years, as have liquidity, volatility, and the amount of money flowing across borders. Combine these global trends with a growing convergence in network architecture as e-payment of all kinds moves to Internet protocols, and an ever-increasing push to link payments with business and consumer data, and you have a shifting e-payment landscape that presents daunting challenges, as well as exciting opportunities, for banks, businesses, governments, and citizens. This book takes a unique, wholly integrated look at the e-payment landscape, viewing consumer, business, and wholesale payments as a continuum. It presents a unique description of the changing environment and delineates the dynamic e-payment scene, helping us to understand the possibilities as well as the limits to change, and making a strong contribution to the increasingly important debate about the future of money.

Anyone reading the business section of a newspaper lately knows that the financial exchanges--stock, bonds, FX, commodities, and so forth--are undergoing tremendous transformations. Fund managers, market makers, traders, exchange professionals, marekt data providers and analyzers, investors--anyone involved with the financial exchanges needs to understand the major forces pushing this transformation in order to position themselves and their institutions to the best advantage. In this book, veteran exchange expert Michael Gorham joins his twenty-five years of experience with CME and CBOT to the technical expertise of Nidhi Singh of Goldman Sachs to write a book that tells the story of this dramatic transformation. They chronicle the shift: --from floors to screens --from private clubs to public companies, and --from local and national to global competition. They analyze each of these shifts, identify the drivers behind them and look forward to the implications arising out of them for exchange business in the future. They also explore several key trends: --an increase in product innovation --the integration of markets from all over the world onto a single screen, --the rise of the modular exchange --the outsourcing of various exchange functions, and --the difficulty of transcending geography for regulatory purposes. So join Gorham and Singh in learning the story of this fundamental transformation. As old ways of working are being destroyed, entirely new types of jobs are being created, and new ways of working with exchanges. This book will help you chart the way forward to financial success. Gorham is an exchange expert and Singh is an electronic trading expert, they combine their expertise to reveal the inner workings of the exchanges and where they will go in the future Only book to point to new skills needed and new ways of making money for users of exchange services

Digital platforms and technologies have led to innovation in the way we trade: from early online mail order shops, to today's complex cryptocurrencies and digital assets. Understanding the economic, social and political implications of such change in the way we make transactions - and how these fit into the context of wider socioeconomic trends - are key areas of focus for policymakers who wish to address social challenges and also make the best use of such platforms for public benefit. This report captures discussions among participants and key themes that arose over a two-day Thought Leadership consultation held at St George's House, Windsor, in April 2017. It captures preliminary ideas about how digital technologies are changing the way we are able to transact and the implications of such changes on society, as well as providing recommendations for further research.

First Published in 1999. Routledge is an imprint of Taylor & Francis, an informa company.

Electronic Data Interchange (EDI) is the exchange of structured data between computer systems of trading partners. This book provides a concise introduction to the subject, indicating key features and the likely benefits to businesses who use it. The new edition contains recent case studies, and covers the implications of EDI in Europe and the potential for EDI in small and medium-sized businesses.