Trading and Exchanges
Market Microstructure for Practitioners
1st Edition
Published on 24. October 2002
656 pages
978-0-19-972654-7 (ISBN)
Description
This book is about trading, the people who trade securities and contracts, the marketplaces where they trade, and the rules that govern it. Readers will learn about investors, brokers, dealers, arbitrageurs, retail traders, day traders, rogue traders, and gamblers; exchanges, boards of trade, dealer networks, ECNs (electronic communications networks), crossing markets, and pink sheets. Also covered in this text are single price auctions, open outcry auctions, and brokered markets limit orders, market orders, and stop orders. Finally, the author covers the areas of program trades, block trades, and short trades, price priority, time precedence, public order precedence, and display precedence, insider trading, scalping, and bluffing, and investing, speculating, and gambling.
More details
Other editions
Additional editions
Book
11/2002
Oxford University Press
€179.50
Available immediately
Person
Larry Harris holds the Fred V. Keenan Chair in Finance at the University of Southern California Marshall School of Business. In July 2002, Professor Harris was appointed Chief Economist of the U.S. Securities and Exchange Commission, where he served until June 2004.
Content
- Intro
- Contents
- 1 Introduction
- 2 Trading Stories
- Part I: The Structure of Trading
- 3 The Trading Industry
- 4 Orders and Order Properties
- 5 Market Structures
- 6 Order-driven Markets
- 7 Brokers
- Part II: The Benefits of Trade
- 8 Why People Trade
- 9 Good Markets
- Part III: Speculators
- 10 Informed Traders and Market Efficiency
- 11 Order Anticipators
- 12 Bluffers and Market Manipulation
- Part IV: Liquidity Suppliers
- 13 Dealers
- 14 Bid/Ask Spreads
- 15 Block Traders
- 16 Value Traders
- 17 Arbitrageurs
- 18 Buy-Side Traders
- Part V: Origins of Liquidity and Volatility
- 19 Liquidity
- 20 Volatility
- Part VI: Evaluation and Prediction
- 21 Liquidity and Transaction Cost Measurement
- 22 Performance Evaluation and Prediction
- Part VII: Market Structures
- 23 Index and Portfolio Markets
- 24 Specialists
- 25 Internalization, Preferencing, and Crossing
- 26 Competition Within and Among Markets
- 27 Floor Versus Automated Trading Systems
- 28 Bubbles, Crashes, and Circuit Breakers
- 29 Insider Trading
- Bibliography
- Index
- A
- B
- C
- D
- E
- F
- G
- H
- I
- J
- K
- L
- M
- N
- O
- P
- Q
- R
- S
- T
- U
- V
- W
- Y
- Z
