MicroExchanges are lightly staffed,

technology Technology is the application of Conceptual model, conceptual knowledge to achieve practical goals, especially in a reproducible way. The word ''technology'' can also mean the products resulting from such efforts, including both tangible too ...

-driven marketplaces that have been enabled by the

Internet The Internet (or internet) is the Global network, global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a internetworking, network of networks ...

/WWW which bring together buyers and sellers in key niche

commodity market A commodity market is a market that trades in the primary economic sector rather than manufactured products. The primary sector includes agricultural products, energy products, and metals. Soft commodities may be perishable and harvested, w ...

s. The marketplaces closely resemble (but are much smaller than) conventional exchange structures. The aim of a microexchange is to reduce costs, improve returns, and facilitate trading in all sorts of physical and intangible products in financial, equity and commodity products both as underlying cash instruments or derivatives products. The term was first coined by Patrick L. Young, financial innovator and author of various books including " Capital Market Revolution!" during a book tour in 2000. Subsequently, the first "Microexchange Manifesto" was published in his 2001 book " The Promiscuous Investor" and subsequently updated in "New Capital Market Revolution" published in 2002 Many Microexchanges have been subsequently founded. Young himself co-founded the EOEX a market for Essential Oils in

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

with a public announcement in December 2003 and the initial trading commencing in March 2004. Microexchanges have also been launched for equity trading such as the Aruba Electronic Stock Exchange and Pacific OTC Home Page http://www.pacificotc.com/

References

Stock market