16 Ergebnisse.

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 Wi...

Volatility is very much with us in today's equity markets. Day-to-day price swings are often large and intra-day volatility elevated, especially at market openings and closings. What explains this? What does this say about the quality of our markets? Can short-period volatility be controlled by better market design and a more effective use of electronic technology? Featuring insights from an international array of prominent academics, financia...

Market quality" is a complex, ambiguous term that means different things to different people. How should it be defined, measured, monitored, and improved? What is the evidence about the current state of our markets? How effective have recent innovations been? How can we better meet investor needs? These are some of the questions that we address in this book, along with a broad range of issues concerning equity market structure, regulation, and...

Historically, specialists and other floor brokers, in direct contact on the trading floor, have been at the heart of operations at the national U.S. equity exchanges. At the other end of the spectrum, electronic trading platforms have characterized most other equity markets globally for many years. Recent developments at the NYSE have moved in this direction, but fundamental questions effecting market quality remain. Can the unique services of...

Competition between market centers is a driving force for innovation, dynamic growth, and reasonable pricing structures.  Consolidating the order flow amasses liquidity, sharpens price discovery, and lowers trading costs.  Can competition remain vibrant in a consolidated environment?  How does inter-market competition play out with respect to trading decisions and listing decisions?  What will the primary sources of competition be in the futur...

The NASDAQ Stock Market has been reengineered in recent years from a competitive dealer market to a modern hybrid. The broader NASDAQ marketplace, including Electronic Communication Networks (ECNs) and Alternative Trading Systems (ATSs), has also experienced substantial growth and development. This conference, hosted by the Zicklin School of Business, brought together leading buy-side and sell-side participants and NASDAQ executives to put the...

Market quality" is a complex, ambiguous term that means different things to different people. How should it be defined, measured, monitored, and improved? What is the evidence about the current state of our markets? How effective have recent innovations been? How can we better meet investor needs? These are some of the questions that we address in this book, along with a broad range of issues concerning equity market structure, regulation, and...

This book is an augmented account of Technology and Regulation: How Are They Driving Our Markets?, a conference hosted by the Zicklin School of Business at Baruch College on May 1, 2007. The text includes the edited transcript of the full conference: four panels and the major presentations of three distinguished industry leaders - Ian Domowitz, Managing Director, ITG, Inc., Erik Sirri, Director of the Division of Market Regulation, US Securiti...

Handling the large orders of institutional participants presents some of the most complex problems for system design. How well are our current systems operating, and how effective are new facilities on the scene? To what extent is market quality impaired for all participants when institutional trading costs are not properly contained? Can institutional order flow be efficiently integrated with the orders of retail customers, or are separate fa...

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 Wi...

The NASDAQ Stock Market has been reengineered in recent years from a competitive dealer market to a modern hybrid. The broader NASDAQ marketplace, including Electronic Communication Networks (ECNs) and Alternative Trading Systems (ATSs), has also experienced substantial growth and development. This conference, hosted by the Zicklin School of Business, brought together leading buy-side and sell-side participants and NASDAQ executives to put the...

Historically, specialists and other floor brokers, in direct contact on the trading floor, have been at the heart of operations at the national U.S. equity exchanges. At the other end of the spectrum, electronic trading platforms have characterized most other equity markets globally for many years. Recent developments at the NYSE have moved in this direction, but fundamental questions effecting market quality remain. Can the unique services of...

Competition between market centers is a driving force for innovation, dynamic growth, and reasonable pricing structures.  Consolidating the order flow amasses liquidity, sharpens price discovery, and lowers trading costs.  Can competition remain vibrant in a consolidated environment?  How does inter-market competition play out with respect to trading decisions and listing decisions?  What will the primary sources of competition be in the futur...

Handling the large orders of institutional participants presents some of the most complex problems for system design. How well are our current systems operating, and how effective are new facilities on the scene? To what extent is market quality impaired for all participants when institutional trading costs are not properly contained? Can institutional order flow be efficiently integrated with the orders of retail customers, or are separate fa...

Two primary drivers have transformed the equity markets in recent years: technological advances and regulatory initiatives. How does modern, electronic technology facilitate trading, and to what extent does it present new challenges? How does regulation adjust to the changing structure of the markets, and to what extent is it itself a source of change? What are the new problems and solutions for handling institutional orders? On both sides of ...

Volatility is very much with us in today's equity markets. Day-to-day price swings are often large and intra-day volatility elevated, especially at market openings and closings. What explains this? What does this say about the quality of our markets? Can short-period volatility be controlled by better market design and a more effective use of electronic technology? Featuring insights from an international array of prominent academics, financia...