Time and NetworkBy Maude Sainteville
Over the last three decades, institutional and technological advances have radically transformed the networks of participants and technical infrastructures of stock exchanges. From the floor of the exchanges to the datacenters and dispersed trading rooms, these changes are reflected in the associated geographical territory, based on the practices, IT solutions, and strategies of each player. This article focuses on exploring the transformation of networks and territories through the different phases of the financial market development. Eras of innovation and subsequent maturation has witnessed the establishment of conditions for transformation of the exchange networks. In turn, those networks have gradually given structure to global financial integration and territories. Since the dawn of the 21st century, high-speed trading and its variants have continued to push markets into even more changes in dynamics and spatial configurations. Finally, the time of adaptation to the new generation stock-exchange activity leads to the questioning of the renewal of the organization of the financial planet, of its networks, places and territories.