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This book is based on the proceedings of The Electronic Call Auction: New Answers to Old Questions, a conference hosted by the Zicklin School of Business on May 16, 2000. The text includes the edited transcripts of the panel discussions and separate addresses by three major industry executives Douglas M. Atkin, formerly President and CEO, Instinet Corporation; Kenneth D. Pasternak, formerly President and CEO, Knight/Trimark Group, Inc., and William J. Brodsky, Chairman and CEO, Chicago Board Options Exchange. The electronic call auction is an important trading vehicle in many market centers around the world, but is not well understood in the US. What are call auctions? How should they be designed and integrated with continuous trading in a hybrid market structure? As call auctions play a more central role in the US markets, how will they affect market quality in terms of transparency, order flow consolidation, and price discovery? These and other critical questions were asked at the conference while the efficiency of the US markets was broadly assessed.

Electronic trading of securities -- Congresses. --- Options (Finance) -- Congresses. --- Options (Finance) --- Electronic trading of securities --- Finance --- Business & Economics --- Investment & Speculation --- Finance. --- Finance, general. --- Funding --- Funds --- Economics --- Currency question

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This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more than ever before on markets in equities and bonds at the expense of banks; and the opening of national financial systems of newly industrializing countries to international financial flows and institutions, as governments remove capital controls and other barriers. Eight essays examine such issues as the current extent of international market integration, gains to U.S. investors through international diversification, home-country bias in investing, the role of time and location around the world in stock trading, and the behavior of country funds. Other, long-standing questions about equity markets are also addressed, including market efficiency and the accuracy of models of expected returns, with a particular focus on variances, covariances, and the price of risk according to the Capital Asset Pricing Model.

International finance --- Investments, Foreign --- -Portfolio management --- -Securities --- -Stock exchanges --- -International finance --- -AA / International- internationaal --- 305.91 --- NBB congres --- beleggingen --- beurswezen --- investeringen, internationaal --- kapitaalmarkt, internationaal --- portfoliobeheer --- Securities --- -Investments, Foreign --- -332.632 --- Capital exports --- Capital imports --- FDI (Foreign direct investment) --- Foreign direct investment --- Foreign investment --- Foreign investments --- International investment --- Offshore investments --- Outward investments --- Capital movements --- Investments --- Investment management --- Investment analysis --- 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 --- International monetary system --- International money --- Finance --- International economic relations --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities law --- Underwriting --- Investment banking --- Congresses --- Econometrie van de financiële activa. Portfolio allocation en management. CAPM. Bubbles. --- Law and legislation --- Portfolio management --- Stock exchanges --- 332.632 --- AA / International- internationaal --- Econometrie van de financiële activa. Portfolio allocation en management. CAPM. Bubbles --- E-books --- Investments [Foreign ] --- Securities - Congresses. --- International fianance - Congresses. --- Stock exchanges - Congresses. --- Portfolio management - Congresses. --- internationalization, market integration, foreign investment, stock prices, japan, equities, bonds, banking, national financial systems, government, regulation, nonfiction, finance, economics, diversification, investors, investing, trading, country funds, returns, efficiency, capital asset pricing model, controls, risk, covariances, variances, securities, portfolio management, business cycles, volume spillovers, price volatility.