Stock Exchange Automation Routledge Library Editions: Financial Markets Series
Auteur : Munshi Jamal
Originally published in 1994, Stock Exchange Automation addresses the pivotal role played by capital markets in the market economics. Capital markets are an essential component of the free market system. The book argues that the capital markets function as an allocator of investable funds among competing uses. The movement toward automated markets requires that we understand how automation changes market behaviour. The book also examines the concept of market microstructure theory, and the implication that some forms of automation should affect prices. Theories of price formation in the specialist based trading system hypothesise that the trading mechanism induces short term price volatility.
1. An Overview of Capital Markets and the Nature of this Investigation 2. Market Microstructure and the Impact of Information Technology: Previous Research 3. The Empirical Test 4. Data Analysis and Results 5. Summary and Conclusions Bibliography
Date de parution : 05-2019
15.6x23.4 cm
Date de parution : 11-2017
15.6x23.4 cm
Thèmes de Stock Exchange Automation :
Mots-clés :
Limit Order Book; Automation; American Stock Exchange; Capital Markets; IBM Stock; Data Analysis; Open Limit Order Book; Empirical Test; Electronic Limit Order Book; Jamal Munshi; User Information Satisfaction; Microstructure; Large Market Orders; New York Stock Exchange; Intraday Volatility; Results; Daily Trade Data; Stock Exchange; ANOVA Table; Stock Exchange Automation; Include Trading Volume; price formation; Intraday Transaction Data; Excess Volatility; Trading Volume Data; Volatility Hypothesis; Market Microstructure; Daily Close Prices; Interday Variability; Limit Orders; Its; Lac; Intraday Price; Order Imbalances