About 40 years ago, Sydney stockbroker Jim Bain attended a lecture on fibre optics at the NSW State Library. He emerged with his head buzzing about what this new technology could do for Australian financial markets.
The result was the screen trading revolution in Australia, the disappearance of state stock exchanges and trading floors, the formation of a unified national market under the ASX rubric, and enormous growth in the market capitalisation of ASX stocks.
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Andrew Clark is a former editor of The Sun-Herald and Australian Business. He was a correspondent in Europe and North America, a political correspondent in Canberra and has been a journalist for more than 55 years. Email Andrew at aclark@afr.com.au
