Electronic vs. Floor Based Trading - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Electronic vs. Floor Based Trading write by Robert A. Schwartz. This book was released on 2005-12-06. Electronic vs. Floor Based Trading available in PDF, EPUB and Kindle. Specialists and floor brokers, in direct contact on the trading floor, are at the heart of operations at the national U.S. equity exchanges. At the other end of the spectrum, electronic trading platforms characterize most other equity markets globally. Why have we not followed the international trend, and should we? Can the unique services offered by the floor be provided as effectively in an electronic environment? Which environment would institutional and retail traders each find most suitable to their special needs? These are some of the questions that will be addressed. In so doing, Electronic vs. Floor Based Trading will provide perspective on the future direction that exchange market structure is likely to follow in the coming years.
Electronic vs. Floor Based Trading
Electronic vs. Floor Based Trading - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Electronic vs. Floor Based Trading write by Robert A. Schwartz. This book was released on 2006-06-03. Electronic vs. Floor Based Trading available in PDF, EPUB and Kindle. Specialists and floor brokers, in direct contact on the trading floor, are at the heart of operations at the national U.S. equity exchanges. At the other end of the spectrum, electronic trading platforms characterize most other equity markets globally. Why have we not followed the international trend, and should we? Can the unique services offered by the floor be provided as effectively in an electronic environment? Which environment would institutional and retail traders each find most suitable to their special needs? These are some of the questions that will be addressed. In so doing, Electronic vs. Floor Based Trading will provide perspective on the future direction that exchange market structure is likely to follow in the coming years.
Anonymous Electronic Trading Versus Floor Trading
Anonymous Electronic Trading Versus Floor Trading - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Anonymous Electronic Trading Versus Floor Trading write by Günter Franke. This book was released on 1995. Anonymous Electronic Trading Versus Floor Trading available in PDF, EPUB and Kindle.
Anonymous Electronic Trading Versus Floor Trading
Anonymous Electronic Trading Versus Floor Trading - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Anonymous Electronic Trading Versus Floor Trading write by Dieter Hess. This book was released on 2008. Anonymous Electronic Trading Versus Floor Trading available in PDF, EPUB and Kindle. This paper compares the attractiveness of floor trading and anonymous electronic trading systems. It is argued that in times of low information intensity, the insight into the order books of the electronic trading system provides more valuable information than floor trading; but in times of high information intensity, the reverse is true. Thus, the electronic system's market share in trading activity should decline in times of high information intensity. This hypothesis is tested by data on BUND-future trading. This future is traded on the German and on the British futures exchanges. The empirical results support the hypothesis.
Financial Market Design and Equity Premium
Financial Market Design and Equity Premium - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Market Design and Equity Premium write by Pankaj K. Jain. This book was released on 2015. Financial Market Design and Equity Premium available in PDF, EPUB and Kindle. We assemble the dates of announcement and actual introduction of electronic trading by the leading exchange of 118 countries to examine the long term and medium term impact of automation. The dividend growth model suggests a decline in expected returns by 0.08% per month after the introduction of electronic trading. Consistent with this reduction in equity premium in the long run, there is a positive short-term price reaction to the switch. These findings are sustained even after controlling for risk factors, financial integration, economic liberalization, and economic development. The results support the notion that electronic trading enhances the liquidity and informativeness of stock markets leading to a reduction in illiquidity premium.
