Summary of Cables, Sharks and Servers
© 2016 European Central Bank. Note: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB.
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The ongoing disruptive effects of information and communication technology (ICT) transform industries and can determine how and where products and services get manufactured and delivered. Economists Barry Eichengreen, Romain Lafarguette and Arnaud Mehl analyze ICT’s impact on the sphere of foreign currency trading. Specifically, the team examines this market to determine whether ICT has concentrated trading activity in just a few large-scale geographic centers – such as London, New York and Tokyo – or whether it has diffused transactions across the globe. getAbstract recommends their robust, intriguing report to executives and policy officials looking to unravel the answer to a unique question.
In this summary, you will learn
- How underwater cables influence currency trading,
- How information and communication technology (ICT) has affected foreign exchange markets, and
- Why ICT supports offshore trading activity in large metropolitan centers with cable connections to the oceans.
About the Authors
Barry Eichengreen is an economics professor at the University of California, Berkeley. Romain Lafarguette is an economist at the International Monetary Fund. Arnaud Mehl is an economist at the European Central Bank.
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