| Description |
xii, 643 pages ; 26 cm |
| Series |
Financial Management Association survey and synthesis series |
|
Financial Management Association survey and synthesis series.
|
| Contents |
1. Introduction -- 2. Trading Stories -- Pt. I. The Structure of Trading -- 3. The Trading Industry -- 4. Orders and Order Properties -- 5. Market Structures -- 6. Order-driven Markets -- 7. Brokers -- Pt. II. The Benefits of Trade -- 8. Why People Trade -- 9. Good Markets -- Pt. III. Speculators -- 10. Informed Traders and Market Efficiency -- 11. Order Anticipators -- 12. Bluffers and Market Manipulation -- Pt. IV. Liquidity Suppliers -- 13. Dealers -- 14. Bid/Ask Spreads -- 15. Block Traders -- 16. Value Traders -- 17. Arbitrageurs -- 18. Buy-Side Traders -- Pt. V. Origins of Liquidity and Volatility -- 19. Liquidity -- 20. Volatility -- Pt. VI. Evaluation and Prediction -- 21. Liquidity and Transaction Cost Measurement -- 22. Performance Evaluation and Prediction -- Pt. 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 |
| Summary |
Describes in plain words how markets work; how governments and exchanges regulate them; and how traders create liquidity, volatility, informative prices, trading profits, and transaction costs. It identifies the trading strategies that make markets liquid, produce prices that reflect information about fundamental values, and allow some traders to consistently profit while others lose. Since the success of trading strategies depends on the trading rules that markets use, the text also considers the regulatory forces that create and enforce trading rules |
| Bibliography |
Includes bibliographical references (pages 601-617) and index |
| Subject |
Markets.
|
|
Exchange.
|
|
Commerce.
|
| LC no. |
2002004622 |
| ISBN |
0195144708 (hardcover) (alkaline paper) |
|
