Electronic Vs Floor Based Trading

Author : Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno
Publisher : Springer Science & Business Media
Page : 184 pages
File Size : 52,6 Mb
Release : 2006-06-03
Category : Business & Economics
ISBN : 9780387299105

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Electronic vs. Floor Based Trading by Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno Pdf

Specialists and floor brokers, in direct contact on the trading floor, are at the heart of operations at the national U.S. equity exchanges. At the other end of the spectrum, electronic trading platforms characterize most other equity markets globally. Why have we not followed the international trend, and should we? Can the unique services offered by the floor be provided as effectively in an electronic environment? Which environment would institutional and retail traders each find most suitable to their special needs? These are some of the questions that will be addressed. In so doing, Electronic vs. Floor Based Trading will provide perspective on the future direction that exchange market structure is likely to follow in the coming years.

Author : Joseph Rosen
Publisher : Unknown
Page : 0 pages
File Size : 40,6 Mb
Release : 2009-06-18
Category : Electronic trading of securities
ISBN : 0981464602

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The Handbook of Electronic Trading by Joseph Rosen Pdf

This book provides a comprehensive look at the challenges of keeping up with liquidity needs and technology advancements. It is also a sourcebook for understandable, practical solutions on trading and technology.

Author : Larry Harris
Publisher : CFA Institute Research Foundation
Page : 94 pages
File Size : 53,7 Mb
Release : 2015-10-19
Category : Business & Economics
ISBN : 9781934667927

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Trading and Electronic Markets: What Investment Professionals Need to Know by Larry Harris Pdf

The true meaning of investment discipline is to trade only when you rationally expect that you will achieve your desired objective. Accordingly, managers must thoroughly understand why they trade. Because trading is a zero-sum game, good investment discipline also requires that managers understand why their counterparties trade. This book surveys the many reasons why people trade and identifies the implications of the zero-sum game for investment discipline. It also identifies the origins of liquidity and thus of transaction costs, as well as when active investment strategies are profitable. The book then explains how managers must measure and control transaction costs to perform well. Electronic trading systems and electronic trading strategies now dominate trading in exchange markets throughout the world. The book identifies why speed is of such great importance to electronic traders, how they obtain it, and the trading strategies they use to exploit it. Finally, the book analyzes many issues associated with electronic trading that currently concern practitioners and regulators.

Author : Günter Franke,Dieter Hess
Publisher : Unknown
Page : 35 pages
File Size : 41,7 Mb
Release : 1995
Category : Electronic
ISBN : OCLC:832472368

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Anonymous Electronic Trading Versus Floor Trading by Günter Franke,Dieter Hess Pdf

Author : Michael Gorham,Nidhi Singh
Publisher : Elsevier
Page : 352 pages
File Size : 53,6 Mb
Release : 2009-07-08
Category : Business & Economics
ISBN : 008092140X

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Electronic Exchanges by Michael Gorham,Nidhi Singh Pdf

Anyone reading the business section of a newspaper lately knows that the financial exchanges--stock, bonds, FX, commodities, and so forth--are undergoing tremendous transformations. Fund managers, market makers, traders, exchange professionals, marekt data providers and analyzers, investors--anyone involved with the financial exchanges needs to understand the major forces pushing this transformation in order to position themselves and their institutions to the best advantage. In this book, veteran exchange expert Michael Gorham joins his twenty-five years of experience with CME and CBOT to the technical expertise of Nidhi Singh of Goldman Sachs to write a book that tells the story of this dramatic transformation. They chronicle the shift: --from floors to screens --from private clubs to public companies, and --from local and national to global competition. They analyze each of these shifts, identify the drivers behind them and look forward to the implications arising out of them for exchange business in the future. They also explore several key trends: --an increase in product innovation --the integration of markets from all over the world onto a single screen, --the rise of the modular exchange --the outsourcing of various exchange functions, and --the difficulty of transcending geography for regulatory purposes. So join Gorham and Singh in learning the story of this fundamental transformation. As old ways of working are being destroyed, entirely new types of jobs are being created, and new ways of working with exchanges. This book will help you chart the way forward to financial success. *Gorham is an exchange expert and Singh is an electronic trading expert, they combine their expertise to reveal the inner workings of the exchanges and where they will go in the future *Only book to point to new skills needed and new ways of making money for users of exchange services

Author : Kendall Kim
Publisher : Academic Press
Page : 224 pages
File Size : 54,5 Mb
Release : 2010-07-27
Category : Business & Economics
ISBN : 0080548865

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Electronic and Algorithmic Trading Technology by Kendall Kim Pdf

Electronic and algorithmic trading has become part of a mainstream response to buy-side traders’ need to move large blocks of shares with minimum market impact in today’s complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larger order flow is becoming a reality. The higher reliance on electronic trading has had profound implications for vendors and users of information and trading products. Broker dealers providing solutions through their products are facing changes in their business models such as: relationships with sellside customers, relationships with buyside customers, the importance of broker neutrality, the role of direct market access, and the relationship with prime brokers. Electronic and Algorithmic Trading Technology: The Complete Guide is the ultimate guide to managers, institutional investors, broker dealers, and software vendors to better understand innovative technologies that can cut transaction costs, eliminate human error, boost trading efficiency and supplement productivity. As economic and regulatory pressures are driving financial institutions to seek efficiency gains by improving the quality of software systems, firms are devoting increasing amounts of financial and human capital to maintaining their competitive edge. This book is written to aid the management and development of IT systems for financial institutions. Although the book focuses on the securities industry, its solution framework can be applied to satisfy complex automation requirements within very different sectors of financial services – from payments and cash management, to insurance and securities. Electronic and Algorithmic Trading: The Complete Guide is geared toward all levels of technology, investment management and the financial service professionals responsible for developing and implementing cutting-edge technology. It outlines a complete framework for successfully building a software system that provides the functionalities required by the business model. It is revolutionary as the first guide to cover everything from the technologies to how to evaluate tools to best practices for IT management. First book to address the hot topic of how systems can be designed to maximize the benefits of program and algorithmic trading Outlines a complete framework for developing a software system that meets the needs of the firm's business model Provides a robust system for making the build vs. buy decision based on business requirements

Author : Günter Franke,Dieter Hess
Publisher : Unknown
Page : 35 pages
File Size : 46,5 Mb
Release : 1995
Category : Electronic
ISBN : OCLC:75680152

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Anonymous electronic trading versus floor trading by Günter Franke,Dieter Hess Pdf

Author : Larry Harris
Publisher : OUP USA
Page : 664 pages
File Size : 52,9 Mb
Release : 2003
Category : Business & Economics
ISBN : 0195144708

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Trading and Exchanges by Larry Harris Pdf

Focusing on market microstructure, Harris (chief economist, U.S. Securities and Exchange Commission) introduces the practices and regulations governing stock trading markets. Writing to be understandable to the lay reader, he examines the structure of trading, puts forward an economic theory of trading, discusses speculative trading strategies, explores liquidity and volatility, and considers the evaluation of trader performance. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).

Author : Marc Friedfertig,George West
Publisher : McGraw Hill Professional
Page : 228 pages
File Size : 40,6 Mb
Release : 1998
Category : Business & Economics
ISBN : 0071364285

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The Electronic Day Trader by Marc Friedfertig,George West Pdf

Showing traders how personal computers and online trading can put them on equal footing with big-name market-makers, this book puts every reader "right on the trading floor", demonstrating the best ways to get instant quotes and execution.

Author : Terri Duhon
Publisher : John Wiley & Sons
Page : 372 pages
File Size : 49,7 Mb
Release : 2012-08-23
Category : Business & Economics
ISBN : 9781119966029

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How the Trading Floor Really Works by Terri Duhon Pdf

A detailed look at what really happens in the front office of an investment bank and why Trading floors have always fascinated people, but few understand the role they play in the world of finance today. Though markets rise and fall every day, the drivers of those are rarely explored. Those who understand the dynamics of trading floors will better understand the dynamics of global financial markets. This book reveals the key players on the floor, their roles and responsibilities, how they serve their clients, and how it all impacts the markets. It also explains important terminology, explains the world of trading both cash and derivatives, and much more. Includes a foreword by Gillian Tett, author of Fool's Gold: How Unrestrained Greed Corrupted a Dream, Shattered Global Markets and Unleashed a Catastrophe. Terri Duhon (www.terriduhon.co) is a financial market expert who in 2004 founded B&B Structured Finance Ltd, which provides expert consulting and financial markets training . Her time on the trading floor has been documented in the book Fool's Gold as well as by PBS's Frontline.

Author : Deniz Ozenbas
Publisher : Springer Nature
Page : 111 pages
File Size : 47,7 Mb
Release : 2022
Category : Business enterprises
ISBN : 9783030748173

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Liquidity, Markets and Trading in Action by Deniz Ozenbas Pdf

This open access book addresses four standard business school subjects: microeconomics, macroeconomics, finance and information systems as they relate to trading, liquidity, and market structure. It provides a detailed examination of the impact of trading costs and other impediments of trading that the authors call rictions It also presents an interactive simulation model of equity market trading, TraderEx, that enables students to implement trading decisions in different market scenarios and structures. Addressing these topics shines a bright light on how a real-world financial market operates, and the simulation provides students with an experiential learning opportunity that is informative and fun. Each of the chapters is designed so that it can be used as a stand-alone module in an existing economics, finance, or information science course. Instructor resources such as discussion questions, Powerpoint slides and TraderEx exercises are available online.

Author : Ada Scupola
Publisher : IGI Global
Page : 22 pages
File Size : 48,8 Mb
Release : 2009
Category : Electronic
ISBN : 9781605666426

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Evolution of Online Financial Trading Systems: E-Service Innovations in the Brokerage Sector by Ada Scupola Pdf

Author : Michael Lewis
Publisher : W. W. Norton & Company
Page : 288 pages
File Size : 44,9 Mb
Release : 2014-03-31
Category : Business & Economics
ISBN : 9780393244663

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Flash Boys: A Wall Street Revolt by Michael Lewis Pdf

Argues that post-crisis Wall Street continues to be controlled by large banks and explains how a small, diverse group of Wall Street men have banded together to reform the financial markets.

Author : Larry Harris
Publisher : OUP USA
Page : 656 pages
File Size : 45,6 Mb
Release : 2003
Category : Business & Economics
ISBN : 9780195144703

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Trading and Exchanges by Larry Harris Pdf

Focusing on market microstructure, Harris (chief economist, U.S. Securities and Exchange Commission) introduces the practices and regulations governing stock trading markets. Writing to be understandable to the lay reader, he examines the structure of trading, puts forward an economic theory of trading, discusses speculative trading strategies, explores liquidity and volatility, and considers the evaluation of trader performance. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).

Author : Daniel Beunza
Publisher : Princeton University Press
Page : 340 pages
File Size : 44,6 Mb
Release : 2021-07-13
Category : Business & Economics
ISBN : 9780691204772

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Taking the Floor by Daniel Beunza Pdf

An inside look at a Wall Street trading room and what this reveals about today’s financial system Debates about financial reform have led to the recognition that a healthy financial system doesn’t depend solely on how it is structured—organizational culture matters as well. Based on extensive research in a Wall Street derivatives-trading room, Taking the Floor considers how the culture of financial organizations might change in order for them to remain healthy, even in times of crises. In particular, Daniel Beunza explores how the extensive use of financial models and trading technologies over the recent decades has exerted a far-ranging and troubling influence on Wall Street. How have models reshaped financial markets? How have models altered moral behavior in organizations? Beunza takes readers behind the scenes in a bank unit that, within its firm, is widely perceived to be “a class act,” and he considers how this trading room unit might serve as a blueprint solution for the ills of Wall Street’s unsustainable culture. Beunza demonstrates that the integration of traders across desks reduces the danger of blind spots created by models. Warning against the risk of moral disengagement posed by the use of models, he also contends that such disengagement could be avoided by instituting moral norms and social relations. Providing a unique perspective on a complex subject, Taking the Floor profiles what an effective, responsible trading room can and should look like.