Dark Pools: Off-Exchange Liquidity in an Era of High Frequency, Program, and Algorithmic Trading

by E. Banks

Overview

This book deals with the topic of dark trading, or non-displayed, off-exchange trading execution. It discusses the development, importance and practice of dark equity trading in an environment dominated by high frequency, program, block and algorithmic trading, and considers its future prospects in a world of mobile capital and changing regulation.

Product Details

ISBN-13:	9781349496822
Publisher:	Palgrave Macmillan UK
Publication date:	01/01/2014
Series:	Global Financial Markets
Edition description:	2nd ed. 2014
Pages:	261
Product dimensions:	6.10(w) x 9.25(h) x (d)

About the Author

Erik Banks is an experienced practitioner and regular contributor to the literature in the field of financial risk management, traded markets and regulation. He has spent over 25 years in international banking, working at major financial institutions in New York, London, Tokyo, Hong Kong and Munich. During his career, Erik has been responsible for managing various aspects of financial risk and capital commitments at Merrill Lynch, UniCredit, XL Capital, and Citibank. He has also been a partner in a multi-strategy international equity hedge fund and has consulted for several other alternative asset hedge funds. Erik is the author of over 20 books on risk, derivatives, markets and governance.

Table of Contents

PART I: MARKET STRUCTURE 1. Introduction to Dark Pools 2. Market Liquidity and Structure 3. Dark Pool Structure PART II: MICRO ISSUES 4. Topics in Pricing and Execution 5. Trading in Dark Pools 6. Aspects of Technology and Architecture PART III: ENVIRONMENT OF THE FUTURE 7. Regulation, Control, and Transparency 8. The Future of Dark Pools

Editorial Reviews

Praise for first edition:

'This is an excellent book. It is bang up to date, in what is a very fast changing area. It is clearly written, and provides a very comprehensive description of these markets and how they work. While it fully covers dark pools, its coverage is much wider than that - covering trading in equity markets more generally' - Professor Charles Sutcliffe, The ICMA Centre, University of Reading, UK

From the Publisher