And a transaction tax would reduce the volume of risky high-transaction, computer-driven trading.
Colin Baptie, a spokesman for Visa International, said it charges card issuers a 1percentt fee for processing the transaction through computer networks, and that banks can choose to pass this fee on to customers (most do).
He had built a real-time, multi-user transaction processing computer.
So, instead of stopping a transaction, the computer might ask a user for more information, like answering a biographical question.
Harriet Kiwanuka, the exchange's manager of research and market development, recently visited a high-tech trading center in Kuala Lumpur, Malaysia, that limits its stock transactions to computer screens.
In "Preventing the Next Flash Crash" (Op-Ed, May 6), Edward E. Kaufman Jr. and Carl M. Levin make the point that high-speed transactions using computer algorithms have turned the stock market from a place for emerging companies to finance their growth into a no-holds-barred gambling casino.
More detailed data on new transactions and computer access to the so-called waterfall of cash flows — the order in which cash from the loans is disbursed to investors — will be required upfront and made available to the public, allowing individual assessments without "help" from the rating agencies.
The bill promises to primarily create a secure regulatory environment for e-commerce by providing legal validity to Internet and other electronic transactions, including computer data, as permissible data in the courts.
Most steps in a transaction would be computer-to-computer communication, eliminating mounds of paperwork and hours of human toil.
But searching databases and processing transactions -- computers have been doing that for decades.
Maybe it had something to do with the sheer volume of transactions that computers have enabled.
