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Hong Kong Stock Exchange closed to be turned into museum

Sign of the times.

28.Oct.17 12:48 PM
By Daria Zaytseva


Hong Kong Stock Exchange closed to be turned into museum

As a sign of moving of financial markets for digital platforms, the Hong Kong Exchanges and Clearing Ltd. closed its physical office space this week, intending to turn some of the territory into a museum for future generations to see how the exchange functioned in its glory days.

The departure from the physical infrastructure has come a long time, and the number of traders on the actual floor has declined annually to 200, with more than 900. As digital commerce has become more common for markets around the world, the physical trading floor has become something of a dinosaur, and most traders use flexibility of digital freedom.

The fact that physical trading platforms have become virtually meaningless is a sign of times, as the transition from traditional financial platforms to new forms of operations with digital currency. However, the growth of cryptocurrencies, such as bitcoin, is being seen as another wave of changes in finances.

Because cryptocurrencies combine the flexibility of digital finance systems with the security of manual transactions, they represent the next step in payment and reconciliation platforms.

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