Equity Markets in Action: The Fundamentals of Liquidity, Market Structure & Trading + CD / Edition 1by Reto Francioni, Robert A. Schwartz
Pub. Date: 07/23/2004
Reading all about market structure, trade clearance and settlement, and other foundational elements of today’s markets gives exactly the in-depth knowledgeon electronic trading, the role of market makers, the impact of economic forces, and other behind-the-scenes aspects of market architecturethat is essential if one is to operate successfully in… See more details below
Reading all about market structure, trade clearance and settlement, and other foundational elements of today’s markets gives exactly the in-depth knowledgeon electronic trading, the role of market makers, the impact of economic forces, and other behind-the-scenes aspects of market architecturethat is essential if one is to operate successfully in today’s highly dynamic trading environment.
Equity Markets in Action is a comprehensive and thoroughly up-to-date course on how markets work, what really drives the movements of the market, and the nuances of trading. Written by two of today’s most globally recognized and respected market authorities, this hands-on exploration of the modern trading environment examines:
- How exchanges function as market centers, and how their efficiencyor lack thereofdrives a market’s quality and value
- Architecture of different markets, with particular focus on U.S. and European market centers
- Post-trade clearing and settlement, a vital link in the value chain of a securities market
Because the most valuable market lessons occur in the heat of the trading moment, the book’s accompanying CD-ROM provides real-life trading sessions to help traders hone their knowledge and decision-making skills. Simulations provide hands-on practice in making split-second tactical trading decisions.
Equity Markets in Action is a detailed look at the foundations of today’s markets, and will provide all traderswhether professional or independentwith new insights and answers into the dynamics of the marketplace.
Table of Contents
Chapter 1. Role of an Equity Market.
Chapter 2. From Information to Prices.
Chapter 3. Liquidity.
Chapter 4. What We Want From Our Markets.
Chapter 5. Institutional Order Flow.
Chapter 6. Order Driven Markets.
Chapter 7. Intermediated Markets.
Chapter 8. The Evolving Scene in the US.
Chapter 9. The Evolving Scene in Europe.
Chapter 10. Clearing and Settlement.
Chapter 11. Regulation.
Chapter 12. Simulated Trading.
Appendix A: Prices and Returns.
Appendix B: From Portfolio Decisions to Trading in a Frictionless Environment.
Appendix C: Dimensions of Informational Efficiency.
Appendix D: The Concept of Self-Regulation.
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