e$: Guilds, Friedman, and Web-servers for mutual funds
Eric Hughes
eric at remailer.net
Wed Jan 25 08:42:32 PST 1995
From: rah at shipwright.com (Robert Hettinga)
You can sell anything digitable on the net.
Securities are mostly traded on a book-entry
basis, that is, in IBM mainframe(still!) computer accounting systems. The
back offices are all automated.
In the interest of buzzword-compliance, book entry securities in the
USA are called ADR's -- American Depository Receipts. ADR facilities
are privately operated; Bank of New York has (if I'm remembering
correctly) the single largest share of this market.
Eric
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