Chapter 1 Birth of High Frequency Trading: Equity Markets Go Electronic.
Defining High Frequency Trading.
Who are the High Frequency Traders?
Impact of High Frequency Trading.
Building a High Frequency Trading Team.
Chapter 2 Market Structure.
Order Handling Rules of 1997.
Growth of Electronic Communication Networks.
Regulation National Market System.
Market Fragmentation versus Competition.
Chapter 3 Trading Infrastructure.
Rise of High Performance Technology Vendors.
Key Components of High Performance Infrastructure.
Chapter 4 Liquidity.
HFT as Liquidity Providers.
Chapter 5 Trading Strategies.
Examples of Algorithms.
High Frequency Trading and Predatory Strategies.
Chapter 6 Expansion in High Frequency Trading.
Foreign Exchange Market.
Over the Counter Derivtives.
Expansion into Global Markets.
Chapter 7 Positives and Possibilities.
Commoditizing High Frequency Trading.
Trading Technology Demands and Preferences.
Finding the Next Opportunity.
Issues and Risks.
Order Routing Gets Smart.
Smart Order Routing’s Future.
Is Artificial Intelligence Next?
Securities and Exchange Commission Filings.
The Pseudo-Semantic Web.
The Next Wave.
Chapter 8 Credit Crisis of 2008: The Blame Game.
U.S. Federal Reserve.
End-Users of Derivative Products.
Recent Regulatory History.
Financial Modernization Act of 1999.
Commodity Futures Modernization Act of 2000.
Dodd Frank Wall Street Reform Act of 2010.
Ending Too Big to Fail Bailouts.
Creating Transparency and Accountability for Derivatives.
Credit Rating Agencies.
Executive Compensation and Corporate Governance.
Impact of Potential Regulations and Rule Changes—Securities and Exchange Commission Concept Release.
Chapter 9 Conclusion.
About the Authors.