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All rights reserved for the book, The Evolution of Trading: How Technology and Governance Are Changing Finance in the 21st Century and the website, www.evolutionoftrading.com . No part of the book or website may be reproduced, stored in a special system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without prior permission of the publisher, Technology & Marketing Ventures, Inc., using imprint, Electronic-BoardroomTMVI(r) Press. The publications contain the opinions and ideas of its authors and is designed to provide useful advice in regard to the subject matter covered. However, the publications are sold with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting or tother professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. The author and publisher specifically disclaim any responsibility for liability, loss or risk, personal or otherwise, that is incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this book. Notwithstanding anything to the contrary set forth herein, Technology & Marketing Ventures, Inc., its officers and employees, affiliates, successors and assigns shall not, directly or indirectly, be liable, in any way, to the reader or any other person for any reliance upoon the information contained herein, or inaccuracies or errors in or omissions from the book, including, but not limited to, financial or investment data. Participating authors warrant that their contributions do not infringe any copyright, violate any property rights, or contain any scandalous, libelous, obscene or unlawful matter or any formula or instruction that may be inaccurate or may be injurious to the users. Situations mentioned in the books are drawn from real-life examples but may have been changed or expanded to illustrate specific points the authors are trying to make.

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