Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Oversight and Investigations
Publisher:
ISBN:
Category : Options (Finance)
Languages : en
Pages : 868
Book Description
Options Market and the National Market System
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Oversight and Investigations
Publisher:
ISBN:
Category : Options (Finance)
Languages : en
Pages : 868
Book Description
Publisher:
ISBN:
Category : Options (Finance)
Languages : en
Pages : 868
Book Description
Progress Toward the Development of a National Market System
Author: United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Oversight and Investigations
Publisher:
ISBN:
Category : Securities
Languages : en
Pages : 556
Book Description
Publisher:
ISBN:
Category : Securities
Languages : en
Pages : 556
Book Description
Securities Trading--SEC Action Needed to Address National Market System Issues
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Securities
Languages : en
Pages : 72
Book Description
The October 1987 stock market crash raised critical questions concerning the efficiency, competitiveness, and fairness of U.S. securities markets. Many experts questioned the structure of the marketplace and its ability to both withstand periods of high stress and operate efficiently in ordinary times. Market experts and analysts have debated these questions since the crash. Renewed volatility in the markets, as indicated by the 190-point drop on October 13, 1989, and the subsequent record gained the following week, has again created doubt about whether the financial markets are properly designed to meet the demands placed upon them. To identify market structure issues, GAO met with federal regulators, exchange and over-the-counter market officials, market professionals, institutional investors, and academics. GAO evaluated what should be done to address the most important issues identified through these discussions-trading restrictions, market links, and options trading.
Publisher:
ISBN:
Category : Securities
Languages : en
Pages : 72
Book Description
The October 1987 stock market crash raised critical questions concerning the efficiency, competitiveness, and fairness of U.S. securities markets. Many experts questioned the structure of the marketplace and its ability to both withstand periods of high stress and operate efficiently in ordinary times. Market experts and analysts have debated these questions since the crash. Renewed volatility in the markets, as indicated by the 190-point drop on October 13, 1989, and the subsequent record gained the following week, has again created doubt about whether the financial markets are properly designed to meet the demands placed upon them. To identify market structure issues, GAO met with federal regulators, exchange and over-the-counter market officials, market professionals, institutional investors, and academics. GAO evaluated what should be done to address the most important issues identified through these discussions-trading restrictions, market links, and options trading.
Market Making and the Changing Structure of the Securities Industry
Author: Yakov Amihud
Publisher: Beard Books
ISBN: 1587981637
Category : Business & Economics
Languages : en
Pages : 338
Book Description
This is a reprnit of a previously published book. it deals with changes on the U.S. financial market by the Securities Acts Amendment of 1975.
Publisher: Beard Books
ISBN: 1587981637
Category : Business & Economics
Languages : en
Pages : 338
Book Description
This is a reprnit of a previously published book. it deals with changes on the U.S. financial market by the Securities Acts Amendment of 1975.
The New Stock Market
Author: Merritt B. Fox
Publisher: Columbia University Press
ISBN: 023154393X
Category : Business & Economics
Languages : en
Pages : 612
Book Description
The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
Publisher: Columbia University Press
ISBN: 023154393X
Category : Business & Economics
Languages : en
Pages : 612
Book Description
The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
Securities Markets
Author: Richard J. Hillman (au)
Publisher: DIANE Publishing
ISBN: 9781422302361
Category : Business & Economics
Languages : en
Pages : 122
Book Description
In early 2001, U.S. stock & option markets began quoting prices in decimal increments rather than fractions of a dollar. At the same time, the minimum price increment, or tick size, was reduced to a penny on the stock markets & to 10¢ & 5¢ on the option markets. Although many believe that decimal pricing has benefited small individual (retail) investors, concerns have been raised that the smaller tick sizes have made trading more challenging & costly for large institutional investors, including mutual funds & pension plans. The financial livelihood of market intermediaries may also have been negatively affected by the lower ticks. This report assesses the effect of decimal pricing on retail & institutional investors & on market intermediaries. Charts.
Publisher: DIANE Publishing
ISBN: 9781422302361
Category : Business & Economics
Languages : en
Pages : 122
Book Description
In early 2001, U.S. stock & option markets began quoting prices in decimal increments rather than fractions of a dollar. At the same time, the minimum price increment, or tick size, was reduced to a penny on the stock markets & to 10¢ & 5¢ on the option markets. Although many believe that decimal pricing has benefited small individual (retail) investors, concerns have been raised that the smaller tick sizes have made trading more challenging & costly for large institutional investors, including mutual funds & pension plans. The financial livelihood of market intermediaries may also have been negatively affected by the lower ticks. This report assesses the effect of decimal pricing on retail & institutional investors & on market intermediaries. Charts.
National Market System
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 836
Book Description
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 836
Book Description
Dark Pools
Author: Scott Patterson
Publisher: Crown Currency
ISBN: 0307887197
Category : Business & Economics
Languages : en
Pages : 386
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.
Publisher: Crown Currency
ISBN: 0307887197
Category : Business & Economics
Languages : en
Pages : 386
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.
Competition for Listings
Author: Thierry Foucault
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 64
Book Description
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 64
Book Description
Federal Register
Author:
Publisher:
ISBN:
Category : Delegated legislation
Languages : en
Pages : 388
Book Description
Publisher:
ISBN:
Category : Delegated legislation
Languages : en
Pages : 388
Book Description