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The trillion-dollar markets for futures, swaps, commodity options, and related derivatives are extremely important to the global economy because, among other things, they influence the prices that people pay for everything from heating oil and bread to the interest rates connected to mortgages and student loans. Due to technological advances in automation and artificial intelligence, these markets have recently undergone a dramatic transformation away from human-centered trading and operations to control by high-speed automated systems. In this work, Gregory Scopino explains how such changes present challenges to the oversight of these markets and discusses potential ways for authorities to address issues presented by computerized trading and related systems. This book should be read by anyone interested in learning how artificial intelligence is used in the financial markets and how those markets are - and should be - regulated.

Derivative securities --- Program trading (Securities) --- Artificial intelligence --- Valeurs mobilières --- Intelligence artificielle --- Law and legislation --- Droit --- Finance --- Artificial intelligence. Robotics. Simulation. Graphics --- Computer-directed trading (Securities) --- Index arbitrage (Securities) --- Program trade (Securities) --- Electronic trading of securities --- AI (Artificial intelligence) --- Artificial thinking --- Electronic brains --- Intellectronics --- Intelligence, Artificial --- Intelligent machines --- Machine intelligence --- Thinking, Artificial --- Bionics --- Cognitive science --- Digital computer simulation --- Electronic data processing --- Logic machines --- Machine theory --- Self-organizing systems --- Simulation methods --- Fifth generation computers --- Neural computers --- Valeurs mobilières

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Electronic and algorithmic trading has become part of a mainstream response to buy-side traders' need to move large blocks of shares with minimum market impact in today's complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larger order flow is becoming a reality. The higher reliance on electronic trading has had profound implications for vendors and users of information and trading products. Broker dealers providing solut

Stocks --- Program trading (Securities) --- Stock exchanges. --- Prices --- Mathematical models. --- AA / International- internationaal --- 333.640 --- Beursverrichtingen: algemeenheden. --- Program trading (Securities). --- Bulls and bears --- Commercial corners --- Corners, Commercial --- Equity markets --- Exchanges, Securities --- Exchanges, Stock --- Securities exchanges --- Stock-exchange --- Stock markets --- Computer-directed trading (Securities) --- Index arbitrage (Securities) --- Program trade (Securities) --- Capital market --- Efficient market theory --- Speculation --- Electronic trading of securities --- Stock exchanges --- Common shares --- Common stocks --- Equities --- Equity capital --- Equity financing --- Shares of stock --- Stock issues --- Stock offerings --- Stock trading --- Trading, Stock --- Prices&delete& --- Mathematical models --- Beursverrichtingen: algemeenheden --- Securities --- Bonds --- Corporations --- Going public (Securities) --- Stock repurchasing --- Stockholders

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The Science of Algorithmic Trading and Portfolio Management, with its emphasis on algorithmic trading processes and current trading models, sits apart from others of its kind. Robert Kissell, the first author to discuss algorithmic trading across the various asset classes, provides key insights into ways to develop, test, and build trading algorithms. Readers learn how to evaluate market impact models and assess performance across algorithms, traders, and brokers, and acquire the knowledge to implement electronic trading systems. This valuable book summarizes market structure,

Investment management --- Program trading (Securities) --- Finance --- Portfolio management. --- Investment analysis. --- Stocks. --- Exchange traded funds. --- Algorithms. --- Decision making. --- Algorism --- Algebra --- Arithmetic --- ETFs (Stock funds) --- Stock funds --- Common shares --- Common stocks --- Equities --- Equity capital --- Equity financing --- Shares of stock --- Stock issues --- Stock offerings --- Stock trading --- Trading, Stock --- Securities --- Bonds --- Corporations --- Going public (Securities) --- Stock repurchasing --- Stockholders --- Analysis of investments --- Analysis of securities --- Security analysis --- Investment analysis --- Investments --- Funding --- Funds --- Economics --- Currency question --- Computer-directed trading (Securities) --- Index arbitrage (Securities) --- Program trade (Securities) --- Electronic trading of securities --- Foundations --- Investments.

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"Trading at the Speed of Light tells the story of how many of our most important financial markets have transformed from physical trading floors on which human beings trade face-to-face, into electronic systems within which computer algorithms trade with each other. Tracing the emergence of ultrafast, automated, high-frequency trading (HFT) since the early 2000s, Donald MacKenzie draws particular attention to the importance of what he deems the 'material political economy' of twenty-first century finance. Fast transmission of price data used to involve fibre-optic cables, but the strands in such cables are made of materials (usually a specialised form of glass) which slow light down to around two-thirds of its speed in free space. By contrast, microwave and other wireless signals used in HFT travel through the atmosphere at nearly full light speed. At these nanosecond speeds, the physical nature of information transmission and the precise spatial location of the equipment involved become hugely important, thus creating inevitable pinch points in the system. MacKenzie details the ways in which these pinch points - individual frequency bands, specific locations on the roofs of computer data centres, and particular sites for microwave towers - are especially advantageous, making it possible for those who control them to profit from that control. The book draws from over 300 interviews conducted with high-frequency traders around the world, the people who supply them with technological systems and communication links, exchange staff and regulators, as well as with others who function within markets that have not yet become dominated by HFT. MacKenzie focuses most closely upon the four main sites of international HFT - Chicago, New York, Amsterdam, and London - and examines both the technology and the politics underpinning modern financial markets"--

Stock exchanges. --- Program trading (Securities) --- Investments --- Finance. --- Algorithms. --- Data processing. --- Computer-directed trading (Securities) --- Index arbitrage (Securities) --- Program trade (Securities) --- Electronic trading of securities --- Bulls and bears --- Commercial corners --- Corners, Commercial --- Equity markets --- Exchanges, Securities --- Exchanges, Stock --- Securities exchanges --- Stock-exchange --- Stock markets --- Capital market --- Efficient market theory --- Speculation --- Algorism --- Algebra --- Arithmetic --- Funding --- Funds --- Economics --- Currency question --- Foundations --- Alexandre Laumonier. --- Automated Trading Desk. --- BrokerTec. --- CME. --- Chicago Mercantile Exchange. --- Dark Pools. --- E-Mini. --- EBS. --- Flash Boys. --- Juan Pablo Pardo-Guerra. --- Michael Durbin. --- Michael Gorham. --- Michael Lewis. --- Nidhi Singh. --- Scott Patterson. --- eSpeed. --- electronic order books. --- financial trading. --- foreign exchange. --- futures. --- geodesic. --- liquidity taking. --- market making. --- material political economy. --- materiality. --- political economy. --- science and technology studies. --- share trading venue. --- shares. --- social studies of finance. --- sociology of finance. --- sovereign bonds. --- speed bumps.