Spread relates more to "willingness to take a risk".... and the reward for taking such.
Price, (Market price that is)... is where buyer and seller meet, both of these, are principals of the transaction. Their willingness to "meet each other" determine such market price.
The brokers, market makers, and/or specialists, are facilitators and/or representatives of the principals. Formerly, they were needed because the technology did not exist so the principals could "meet".
Electronic exchanges with the new technology allow Mr. Seller, meet Ms. Buyer... if they agree on Price
Therefore, exchanges were created were the above "middle men" had a protected sanctuary. While it is reasonable to become compensated for the risk taken....some, abused this environment. They did not fulfill their end of the bargain...
Electronic markets make these "facilitators wannabes", either unnecessary, or obsolete.
The necessary evil, is no longer necessary, because of technology.
The 24 hour part is simply due to globalization, and the fact that the world is round, it rotates, creating different "sleep times" for different people.
Nothing to do with "gambling addiction" or the like, at least not as a determinant factor. |
