TY - JOUR T1 - Back to the Future JF - The Journal of Investing SP - 116 LP - 125 DO - 10.3905/joi.2004.434558 VL - 13 IS - 3 AU - Richard Rosenblatt AU - Joseph Gawronski Y1 - 2004/08/31 UR - https://pm-research.com/content/13/3/116.abstract N2 - As a result of corporate scandals, the massive $1.4 billion conflicts-of-interest research settlement, and the mutual fund timing arrangements investigations, the New York Stock Exchange (NYSE) now finds itself under the microscope. Radical market structure changes are being proposed and the climate suggests that they have the best shot at enactment in years. Electronic communication networks (ECNs) and alternative trading systems (ATSs) have already revolutionized the Nasdaq trading world, capturing over 50% of the trading volume in the past decade or so, and many pundits predict that the same fate awaits the NYSE. While the NYSE has thus far maintained a nearly 80% market share in its own listings, the question remains whether it will be able to fend off its competitors and sustain its dominance over the next decade and beyond and, if so, how. This article seeks to explore a number of issues that will help answer that central question. ER -