NEW YORK ( TheStreet) -- Last summer, when I visited TheStreet.com's Wall Street office on my way to an assignment, I noticed the area around the New York Stock Exchange had become something of a movie set, that it was no longer the center of trading but a stage where trading was discussed.
I was more right than I realized. It's clear now that Wall Street is indeed obsolete, replaced by computers and software, and that the actual ownership of things is less important than the casinos of risk built on top of them.
Trading is moving to cloud computing platforms, traders becoming software algorithms. The instruments you see priced on the TV crawls, the equity in real companies, are no longer where the action is. The exchange owners are welcoming their new cloud overlords, taking stock in the acquirers as part of these deals.ICE is based near my home in Atlanta -- actually the suburb of Sandy Springs -- but its computer center is in Chicago.
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