Regulation of Trading Systems on Financial Markets

Profound changes in the financial markets have caused many lawmakers to modernise their legislation. This work provides a fundamental analysis of the questions raised by the laws ruling trading systems. In doing so, it defines such terms as:

<li class=copymedium>stock exchange
<li class=copymedium>analogous system
<li class=copymedium>protection of investors
<li class=copymedium>protection of the market function

It also offers answers to questions such as:

<li class=copymedium>What trading rules do the financial intermediaries (banks) have to observe? <li class=copymedium>What objectives should be pursued by lawmakers?
<li class=copymedium>What role is to be left to competition?
<li class=copymedium>What should be left to self-regulation?

<p class=copymedium>This work takes both a critical and comparative approach, looking in particular at Anglo-Saxon, Continental, and European legislation. It provides a comparative analysis of each subject covered, including the advantages and disadvantages that exist in the diverse legal solutions envisaged, as well as the current state of the various controversies in the existing doctrine.