Technology and the Architecture of Markets

Reconfiguring the Canadian Equity Market

Bibliographic Data

ID4139919
AuthorsNiall Majury (0000-0002-1143-3894, Queen's University Belfast, corresponding author)
Year2007
Volume39
Issue9
Pages2187-2206
Publication date2007-09-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueEnvironment and Planning A Economy and Space (JOURNAL)
Journal identifiersISSN: 0308-518X • E-ISSN: 1472-3409
PublisherSAGE Publications Inc (PUBLISHER)
DOI10.1068/a38287
OpenAlexW2122215864
LanguageEN
Citations received5
References cited56

This paper examines the relation between technical possibilities, liberal logics, and the concrete reconfiguration of markets. It focuses on the enrolling of innovations in communication and information technologies into the markets traditionally dominated by stock exchanges. With the development of capacities to trade on-screen, the power of incumbent market makers has been challenged as a less stable array of competing quasi-public and private marketplaces emerges. Developing a case study of the Toronto Stock Exchange, I argue that narrative emphasis on the performative power of sociotechnical innovations, the deterritorialisation of financial relations, and the erosion of state capacities needs qualification. A case is made for the importance of developing an understanding of: the spaces of encounter between emerging social technologies and property rights, rules of exchange, and structures of governance; and the interplay of orderings of different institutional composition and spatial reach in the reconfiguration of market architectures. Only then can a better grasp be gained of the evolving dynamics between making markets, the regulatory powers of the state, and their delimitations

Business · Control reconfiguration · Corporate governance · Economic system · Economics · Industrial organization · Management · Market economy · Political science · Situated · Sociotechnical system · Stock exchange · Computer Science · Economic Theory and Institutions · Engineering · Housing, Finance, and Neoliberalism · Private Equity and Venture Capital · Finance