Future Directions in Autonomous Market Infrastructure

Recent developments in distributed ledger technology, artificial intelligence, and decision-making agents hold the promise of radically transforming market infrastructures. Indeed, the emergence of Autonomous Market Infrastructure (AMI)—an open, fully automated, and decentralized set of market-related functionalities—is widely anticipated. Such infrastructures, serving agents capable of fully autonomous behavior, would enable fully automated trading strategies. Moreover, as AMI-based solutions require minimal human intervention, they could be implemented at a fraction of existing costs. This should bolster competition and democratization, as AMI is accessible to everyone and establishes a level playing field.