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Author: Scott Patterson
Publisher: Crown Currency
ISBN: 0307887197
Category : Business & Economics
Languages : en
Pages : 386
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Book Description
A news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots"--artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them. In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables. By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think, and that seemed, ominously, to be slipping the control of their human masters. Dark Pools is the fascinating story of how global markets have been hijacked by trading robots--many so self-directed that humans can't predict what they'll do next.
Author: Scott Patterson
Publisher: Crown Currency
ISBN: 0307887197
Category : Business & Economics
Languages : en
Pages : 386
Get Book Here
Book Description
A news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots"--artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them. In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables. By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think, and that seemed, ominously, to be slipping the control of their human masters. Dark Pools is the fascinating story of how global markets have been hijacked by trading robots--many so self-directed that humans can't predict what they'll do next.
Author: Anna-Carina Salger
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 311066187X
Category : Law
Languages : en
Pages : 318
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Book Description
This timely book explores the pressing topic of dark trading. Following new EU legislation regulating financial markets (MiFID II and MiFIR), it traces the rapid development of off-market securities trading ("dark trading"), analyzes economic studies of this development, and positions the resulting regulatory framework of the EU over against that of the US. The study closes with proposals for reform that provide new impetus for further scientific discussion.
Author: Jay Vaananen
Publisher: John Wiley & Sons
ISBN: 1118879198
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
A plain English guide to high frequency trading and off-exchange trading practices In Dark Pools & High Frequency Trading For Dummies, senior private banker Jukka Vaananen has created an indispensable and friendly guide to what really goes on inside dark pools, what rewards you can reap as an investor and how wider stock markets and pricing may be affected by dark pools. Written with the classic For Dummies style that has become a hallmark of the brand, Vaananen makes this complex material easy to understand with an insider's look into the topic. The book takes a detailed look at the pros and the cons of trading in dark pools, and how this type of trading differs from more traditional routes. It also examines how dark pools are currently regulated, and how the regulatory landscape may be changing. Learn what types of dark pools exist, and how a typical transaction works Discover the rules and regulations for dark pools, and some of the downsides to trading Explore how dark pools can benefit investors and banks, and who can trade in them Recognize the ins and outs of automated and high frequency trading Because dark pools allow companies to trade stocks anonymously and away from the public exchange, they are not subject to the peaks and troughs of the stock market, and have only recently begun to take off in a big way. Written with investors and finance students in mind, Dark Pools & High Frequency Trading For Dummies is the ultimate reference guide for anyone looking to understand dark pools and dark liquidity, including the different order types and key HFT strategies.
Author: Michael Lewis
Publisher: W. W. Norton & Company
ISBN: 0393244660
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
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: Mark Douglas
Publisher: Penguin
ISBN: 1440625417
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.
Author: Sheelah Kolhatkar
Publisher:
ISBN: 0812995805
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
"The rise over the last two decades of a powerful new class of billionaire financiers marks a singular shift in the American economic and political landscape. Their vast reserves of concentrated wealth have allowed a small group of big winners to write their own rules of capitalism and public policy. How did we get here? ... Kolhatkar shows how Steve Cohen became one of the richest and most influential figures in finance--and what happened when the Justice Department put him in its crosshairs"--Amazon.com.
Author: Álvaro Cartea
Publisher: Cambridge University Press
ISBN: 1316453650
Category : Mathematics
Languages : en
Pages : 360
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Book Description
The design of trading algorithms requires sophisticated mathematical models backed up by reliable data. In this textbook, the authors develop models for algorithmic trading in contexts such as executing large orders, market making, targeting VWAP and other schedules, trading pairs or collection of assets, and executing in dark pools. These models are grounded on how the exchanges work, whether the algorithm is trading with better informed traders (adverse selection), and the type of information available to market participants at both ultra-high and low frequency. Algorithmic and High-Frequency Trading is the first book that combines sophisticated mathematical modelling, empirical facts and financial economics, taking the reader from basic ideas to cutting-edge research and practice. If you need to understand how modern electronic markets operate, what information provides a trading edge, and how other market participants may affect the profitability of the algorithms, then this is the book for you.
Author: Nicholas Dunbar
Publisher: Harvard Business Press
ISBN: 1422143163
Category : Business & Economics
Languages : en
Pages : 310
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Book Description
A compelling narrative on what went wrong with our financial system—and who’s to blame. From an award-winning journalist who has been covering the industry for more than a decade, The Devil’s Derivatives charts the untold story of modern financial innovation—how investment banks invented new financial products, how investors across the world were wooed into buying them, how regulators were seduced by the political rewards of easy credit, and how speculators made a killing from the near-meltdown of the financial system. Author Nicholas Dunbar demystifies the revolution that briefly gave finance the same intellectual respectability as theoretical physics. He explains how bankers worldwide created a secret trillion-dollar machine that delivered cheap mortgages to the masses and riches beyond dreams to the financial innovators. Fundamental to this saga is how “the people who hated to lose” were persuaded to accept risk by “the people who loved to win.” Why did people come to trust and respect arcane financial tools? Who were the bankers competing to assemble the basic components into increasingly intricate machines? How did this process achieve its own unstoppable momentum—ending in collapse, bailouts, and a public outcry against the giants of finance? Provocative and intriguing, The Devil’s Derivatives sheds much-needed light on the forces that fueled the most brutal economic downturn since the Great Depression.
Author: Gil Morales
Publisher: John Wiley & Sons
ISBN: 0470886757
Category : Business & Economics
Languages : en
Pages : 390
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Book Description
How two former traders of William J. O'Neil + Company made mad money using O'Neil's trading strategies, and how you can, too From the successes and failures of two William O'Neil insiders, Trade Like an O'Neil Disciple: How We Made Over 18,000% in the Stock Market in 7 Years is a detailed look at how to trade using William O'Neil's proven strategies and what it was like working side-by-side with Bill O'Neil. Under various market conditions, the authors document their trades, including the set ups, buy, add, and sell points for their winners. Then, they turn the magnifying glass on themselves to analyze their mistakes, including how much they cost them, how they reacted, and what they learned. Presents sub-strategies for buying pocket pivots and gap-ups Includes a market direction timing model, as well as updated tools for selling stocks short Provides an "inside view" of the authors' experiences as proprietary, internal portfolio managers at William O'Neil + Company, Inc. from 1997-2005 Detailing technical information and the trading psychology that has worked so well for them, Trade Like an O'Neil Disciple breaks down what every savvy money manager, trader and investor needs to know to profit enormously in today’s stock market.
Author: Stefanie Kammerman
Publisher:
ISBN: 9780692111918
Category :
Languages : en
Pages :
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Book Description
In this book, Stefanie Kammerman shares her secrets, sheds a bright light on Dark Pool activity and teaches you how to spot these big trades before they move stock prices. Most people don't know that 40% of all trading volume happens in private stock exchanges called Dark Pools. Millions of shares are traded, but not reported for up to 24 hours, avoiding any immediate market impact. Following Dark Pool trades has allowed Stefanie to pick successful trades more than 90% of the time over the past four years - enough to earn you triple digit returns if you followed every trade she called. She even called out the last 11 corrections on social media - BEFORE they happened!
