# Microexchanges

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'''MicroExchanges''' are lightly staffed, [technology](/source/technology)-driven marketplaces that have been enabled by the [Internet](/source/Internet)/WWW which bring together buyers and sellers in key niche [commodity market](/source/commodity_market)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 instrument](/source/cash_instrument)s or [derivatives](/source/Derivative_(finance)) products.<ref>{{Cite web|url=http://www.exchange-handbook.co.uk/index.cfm?section=articles&action=detail&id=54129|title=Handbook Articles}}</ref>

The term was first coined by [Patrick L. Young](/source/Patrick_L._Young), financial innovator and author of various books including "[Capital Market Revolution!](/source/Capital_Market_Revolution!)" during a book tour in 2000. Subsequently, the first "Microexchange Manifesto" was published in his 2001 book "[The Promiscuous Investor](/source/The_Promiscuous_Investor)" <ref>"The Promiscuous Investor" by Patrick L Young erivatives.com 2001</ref> and subsequently updated in "New Capital Market Revolution" published in 2002 <ref>New Capital Market Revolution by Patrick L Young, Texere Publishing 2002.</ref>

Many Microexchanges have been subsequently founded. Young himself co-founded the [EOEX](/source/EOEX) a market for Essential Oils in [Australia](/source/Australia)<ref>Essential Oils Exchange Homepage www.EOEX.com</ref> with a public announcement in December 2003 and the initial trading commencing in March 2004.<ref>Appliederivatives.com Editorial March 2004, "Perfect Competition" [https://archive.today/20120729195418/http://www.appliederivatives.com/content/content.cfm?ID=72FEECF2-A969-44E9-9E732A00C3168263&SectionID=A350F060-F99C-4982-AAEF7E6EFDCC0F16&IssueID=93558EDA-825B-4F60-8525AA04BE1D55AD]</ref>

Microexchanges have also been launched for [equity trading](/source/equity_trading) such as the [Aruba Electronic Stock Exchange](/source/Aruba_Electronic_Stock_Exchange)<ref>Aruba Exchange Home Page http://www.arubax.com</ref> and [Pacific OTC](/source/Pacific_OTC)<ref>  Home Page http://www.pacificotc.com/</ref>

== References ==
<references/>

Category:Stock market

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