Technology Threatens Bottom Line Telerate Conference Speakers Say
TECHNOLOGY
A note of warning about the pitfalls of new technology was sounded at the Telerate-sponsored conference on the forex markets this week. McKinsey & Co. principal Adair Turner cautioned that automation in the industry can help productivity but raise fixed costs to such an extent that bank profitability is considerably reduced. Automated broking systems will change the balance of power and profit in the market, he adds.
Turner told dealers that although the impact of technology in forex will not be
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