Capital Market Revolution: The Future of Markets in an Online World by Patrick L. Young

I remember the week well, it was published in London with a launch party at the British Library in the middle of IDW.

Thos picking up the book now might struggle to recall the ‘radical’ nature of the tome at the time as - with hindsight - so much seems just so logical but at the time it was not and I can well recall the luddites eager to stop the message!

In retrospect, “CMR!” was the first bestselling book of fintech, a decade before that term even gained traction. It’s a pacy read and there’s all manner of stuff in there like electronic money, the future of financial centres, the rise of prediction markets, how the ETF would become the staple of the fund industry and much more including of course how electronic for profit exchanges would become the dominant model of commerce in 21st century markets with CCPs becoming increasingly the epicentre of market probity.

“Capital Market Revolution!” delivered a new vision of financial markets outlined clearly and succinctly in print for the first time. The career of its author, Patrick L Young remains a matter of life and pith.