The Electronic Call Auction

Author : Robert A. Schwartz
Publisher : Springer Science & Business Media
Page : 457 pages
File Size : 49,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461516972

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The Electronic Call Auction: Market Mechanism and Trading by Robert A. Schwartz Pdf

ROBERT A. SCHWARTZ The primary objective of this book is to consider how the inclusion of electronic call auction trading would affect the performance of our U.S. equity markets. The papers it contains focus on the call auction and its role in a hybrid market struc ture. The purpose is to increase understanding of this trading environment, and to consider the design of a more efficient stock market. This book had its origin in a symposium, Electronic Call Market Trading, that was held at New York University's Salomon Center on April 20, 1995. Nearly 150 people from 16 different countries attended. At the time, three proprietary trading systems based on call auction principles (The Arizona Stock Exchange, Posit, and Instinet's Crossing Network) had been operating for several years and interest already existed in the procedure. Since the symposium, increasing use has been made of call auctions, primarily by the ParisBourse in its Nouveau Marchi: and CAC markets, by Deutsche Borse in its Xetra market, and in the U.S. by OptiMark. Rather than being used as stand alone systems, however, call auctions are now being interfaced with continuous markets so as to produce hybrid market structures, a development that is given considerable attention to in a number of the chapters in this book.

Author : Robert A Schwartz
Publisher : Unknown
Page : 484 pages
File Size : 54,9 Mb
Release : 2001-10-31
Category : Electronic
ISBN : 1461516986

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The Electronic Call Auction by Robert A Schwartz Pdf

Author : Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno
Publisher : Springer Science & Business Media
Page : 171 pages
File Size : 40,6 Mb
Release : 2006-04-11
Category : Business & Economics
ISBN : 9780306479762

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Call Auction Trading by Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno Pdf

This book is based on the proceedings of The Electronic Call Auction: New Answers to Old Questions, a conference hosted by the Zicklin School of Business on May 16, 2000. The text includes the edited transcripts of the panel discussions and separate addresses by three major industry executives Douglas M. Atkin, formerly President and CEO, Instinet Corporation; Kenneth D. Pasternak, formerly President and CEO, Knight/Trimark Group, Inc., and William J. Brodsky, Chairman and CEO, Chicago Board Options Exchange. The electronic call auction is an important trading vehicle in many market centers around the world, but is not well understood in the US. What are call auctions? How should they be designed and integrated with continuous trading in a hybrid market structure? As call auctions play a more central role in the US markets, how will they affect market quality in terms of transparency, order flow consolidation, and price discovery? These and other critical questions were asked at the conference while the efficiency of the US markets was broadly assessed.

Author : Cheng-Few Lee,Alice C. Lee
Publisher : Springer Nature
Page : 2746 pages
File Size : 51,9 Mb
Release : 2022-09-12
Category : Business & Economics
ISBN : 9783030912314

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Encyclopedia of Finance by Cheng-Few Lee,Alice C. Lee Pdf

The Encyclopedia of Finance comprehensively covers the broad spectrum of terms and topics relating finance from asset pricing models to option pricing models to risk management and beyond. This third edition is comprised of over 1,300 individual definitions, chapters, appendices and is the most comprehensive and up-to-date resource in the field, integrating the most current terminology, research, theory, and practical applications. It includes 200 new terms and essays; 25 new chapters and four new appendices. Showcasing contributions from an international array of experts, the revised edition of this major reference work is unparalleled in the breadth and depth of its coverage.

Author : Robert A. Schwartz,Reto Francioni
Publisher : John Wiley & Sons
Page : 482 pages
File Size : 51,6 Mb
Release : 2004-10-06
Category : Business & Economics
ISBN : 9780471689881

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Equity Markets in Action by Robert A. Schwartz,Reto Francioni Pdf

An in-depth look at the nature of market making and exchanges From theory to practicalities, this is a comprehensive, up-to-date handbook and reference on how markets work and the nuances of trading. It includes a CD with an interactive trading simulation. Robert A. Schwartz, PhD (New York, NY), is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. Reto Francioni, PhD (Zurich, Switzerland), is President and Chairman of the Board of SWX, the Swiss Stock Exchange, and former co-CEO of Consors Discount Broker AG, Nuremberg.

Author : Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno
Publisher : Springer Science & Business Media
Page : 183 pages
File Size : 52,7 Mb
Release : 2007-06-10
Category : Business & Economics
ISBN : 9780387486017

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The New NASDAQ Marketplace by Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno Pdf

The NASDAQ Stock Market has been reengineered in recent years. The broader NASDAQ marketplace has also experienced substantial growth and development. This conference brought together leading buy-side and sell-side participants and NASDAQ executives to put these changes into sharper focus. The resulting book assesses both the current market structure and the direction in which the new NASDAQ marketplace is heading.

Author : Ajay Shah,Kshama Fernandes
Publisher : World Bank Publications
Page : 40 pages
File Size : 49,8 Mb
Release : 2000
Category : Fondos de pensiones
ISBN : 8210379456XXX

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The Relevance of Index Funds for Pension Investment in Equities by Ajay Shah,Kshama Fernandes Pdf

The case for index funds is predicated on the observed inability of active managers to outperform market indexes over long periods. Agency conflicts between investors and fund managers are another important motivation, as index funds benefit from simple, unambiguous accountability.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 444 pages
File Size : 49,6 Mb
Release : 1997-04-15
Category : Business & Economics
ISBN : 1557755558

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Coordinating Public Debt and Monetary Management by International Monetary Fund Pdf

Edited by V. Sundararajan, Peter Dattels, and Hans Blommestein, this volume outlines strategies for managing public debt, developing government securities markets, and coordinating those activities with monetary management through legal, administrative, and operational arrangements. Both transition and market economies are surveyed. The analysis draws partly on the literature on the microstructure of markets and auction systems and on selected country experiences.

Author : Fabian Muniesa
Publisher : Routledge
Page : 170 pages
File Size : 43,5 Mb
Release : 2014-05-16
Category : Social Science
ISBN : 9781135089955

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The Provoked Economy by Fabian Muniesa Pdf

Do things such as performance indicators, valuation formulas, consumer tests, stock prices or financial contracts represent an external reality? Or do they rather constitute, in a performative fashion, what they refer to? The Provoked Economy tackles this question from a pragmatist angle, considering economic reality as a ceaselessly provoked reality. It takes the reader through a series of diverse empirical sites – from public administrations to stock exchanges, from investment banks to marketing facilities and business schools – in order to explore what can be seen from such a demanding standpoint. It demonstrates that descriptions of economic objects do actually produce economic objects and that the simulacrum of an economic act is indeed a form of realization. It also shows that provoking economic reality means facing practical tests in which what ought to be economic or not is subject to elaboration and controversy. This book opens paths for empirical investigation in the social sciences, but also for the philosophical renewal of the critique of economic reality. It will be useful for students and scholars in social theory, sociology, anthropology, philosophy and economics.

Author : Petri Mäntysaari
Publisher : Walter de Gruyter GmbH & Co KG
Page : 1037 pages
File Size : 46,6 Mb
Release : 2021-12-31
Category : Law
ISBN : 9783110761320

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Stocks for All: People’s Capitalism in the Twenty-First Century by Petri Mäntysaari Pdf

Public stock markets are too small. This book is an effort to rescue public stock markets in the EU and the US. There should be more companies with publicly-traded shares and more direct share ownership. Anchored in a broad historical study of the regulation of stock markets and companies in Europe and the US, the book proposes ways to create a new regulatory regime designed to help firms and facilitate people’s capitalism. Through its comparative and historical study of regulation and legal practices, the book helps to understand the evolution of public stock markets from the nineteenth century to the present day. The book identifies design principles that reflect prior regulation. While continental European company law has produced many enduring design principles, the recent regulation of stock markets in the EU and the US has failed to serve the needs of both firms and retail investors. The book therefore proposes a new set of design principles to serve contemporary societal needs.

Author : Tatnall, Arthur
Publisher : IGI Global
Page : 300 pages
File Size : 49,7 Mb
Release : 2012-10-31
Category : Computers
ISBN : 9781466621671

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Social and Professional Applications of Actor-Network Theory for Technology Development by Tatnall, Arthur Pdf

The latest advances in technology development have been particularly useful to actor-network theory as a structure for much of its research. With a socio-technical approach to the understanding of information systems and applications, the actor-network theory aims to bring support for social influence on technological innovations. Social and Professional Applications of Actor-Network Theory for Technology Development presents a platform for the approaches and implementations on the actor-network theory and its relationship with technology development. This book provides researchers and practitioners with a better understanding of the usefulness of the social and technical connection.

Author : Diethard Klatte,Hans-Jakob Lüthi,Karl Schmedders
Publisher : Springer Science & Business Media
Page : 608 pages
File Size : 50,6 Mb
Release : 2012-06-07
Category : Business & Economics
ISBN : 9783642292101

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Operations Research Proceedings 2011 by Diethard Klatte,Hans-Jakob Lüthi,Karl Schmedders Pdf

This book contains a selection of refereed papers presented at the “International Conference on Operations Research (OR 2011)” which took place at the University of Zurich from August 30 to September 2, 2011. The conference was jointly organized by the German speaking OR societies from Austria (ÖGOR), Germany (GOR) and Switzerland (SVOR) under the patronage of SVOR. More than 840 scientists and students from over 50 countries attended OR 2011 and presented 620 papers in 16 parallel topical streams, as well as special award sessions. The conference was designed according to the understanding of Operations Research as an interdisciplinary science focusing on modeling complex socio-technical systems to gain insight into behavior under interventions by decision makers. Dealing with “organized complexity” lies in the core of OR and designing useful support systems to master the challenge of system management in complex environment is the ultimate goal of our professional societies. To this end, algorithmic techniques and system modeling are two fundamental competences which are also well-balanced in these proceedings.

Author : Frank de Jong,Barbara Rindi
Publisher : Cambridge University Press
Page : 209 pages
File Size : 51,8 Mb
Release : 2009-05-14
Category : Business & Economics
ISBN : 9781139478441

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The Microstructure of Financial Markets by Frank de Jong,Barbara Rindi Pdf

The analysis of the microstructure of financial markets has been one of the most important areas of research in finance and has allowed scholars and practitioners alike to have a much more sophisticated understanding of the dynamics of price formation in financial markets. Frank de Jong and Barbara Rindi provide an integrated graduate level textbook treatment of the theory and empirics of the subject, starting with a detailed description of the trading systems on stock exchanges and other markets and then turning to economic theory and asset pricing models. Special attention is paid to models explaining transaction costs, with a treatment of the measurement of these costs and the implications for the return on investment. The final chapters review recent developments in the academic literature. End-of-chapter exercises and downloadable data from the book's companion website provide opportunities to revise and apply models developed in the text.

Author : Ken Baron,Jeffrey Lange
Publisher : Springer
Page : 278 pages
File Size : 50,8 Mb
Release : 2006-11-28
Category : Business & Economics
ISBN : 9780230627505

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Parimutuel Applications In Finance by Ken Baron,Jeffrey Lange Pdf

Financial intermediaries typically offer derivatives to their customers only when they can hedge the exposures from these transactions. Baron and Lange show that parimutuel auctions can be used by financial intermediaries to offer derivatives without exposing themselves to risk.

Author : Robert A. Schwartz
Publisher : John Wiley & Sons
Page : 585 pages
File Size : 47,7 Mb
Release : 2010-03-25
Category : Business & Economics
ISBN : 9780470602850

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Micro Markets by Robert A. Schwartz Pdf

A timely guide that bridges the gap between microeconomic theory and practice through real-world application in the marketplace Understanding how microeconomics affects the marketplace is essential for any investment professional, however most books simply address microeconomics in its pure theory-based form. Micro Markets helps bridge the gap between theory and practice by defining microeconomics in terms of real-world, market applications. This timely guide elucidates basic microeconomic concepts with an emphasis on applicability. It establishes a common application for all of the basic economic concepts that are reviewed, and provides in-depth insights into an industry that is of major economic importance in aggregate, and to most individuals. Utilizes equity market realities to underscore the relevance of economic theory Each chapter includes informative practice problems and power points A companion Workbook, with practice problems and solutions, is also available By taking microeconomic theory and making it applicable to today's marketplace, Micro Markets builds a much-needed bridge between theory and practice.