Futures Markets:

Information on Six Foreign Automated Trading Systems

IMTEC-90-43FS: Published: Apr 27, 1990. Publicly Released: May 8, 1990.

Additional Materials:


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO provided additional information on six foreign automated trading systems for trading futures contracts and options, focusing on: (1) when the exchanges began the futures trading; (2) their current or planned operating hours; (3) the types and volumes of contracts traded; and (4) the exchanges' automated trading processes.

GAO found that: (1) the New Zealand Futures Exchange, Tokyo Stock Exchange, and Tokyo International Financial Futures Exchange used automated trading systems for all futures trading; (2) the Swiss Options and Financial Futures Exchange planned to use its system for all futures trading this year; (3) the Sydney Futures Exchange and the London International Financial Exchange, which began automated trading in 1989, used their systems for after-hours trading and conducted open-outcry trading during normal hours; (4) five systems operating during 1989 traded nearly 28 million futures contracts and options on futures contracts; and (5) all six systems were similar in that the exchanges used them to match and execute orders received from exchange members and report the results of such trades.

Sep 5, 2018

Jul 19, 2018

Jul 18, 2018

Jun 26, 2018

Mar 22, 2018

Mar 16, 2018

Mar 15, 2018

Feb 27, 2018

Looking for more? Browse all our products here