Global algorithmic capital markets: high frequency trading, dark pools, and regulatory challenges

2021 ◽  
pp. 1-2
Author(s):  
Robert Zupko
Keyword(s):  
Capital Markets ◽  
High Frequency ◽  
High Frequency Trading ◽  
Dark Pools ◽  
Regulatory Challenges

Global Algorithmic Capital Markets

2018 ◽  
Keyword(s):  
Public Policy ◽  
Capital Markets ◽  
Systemic Risk ◽  
High Frequency ◽  
Investor Protection ◽  
High Frequency Trading ◽  
Market Making ◽  
Market Governance ◽  
Policy Objectives ◽  
The Impact

This book illustrates and assesses the dramatic recent transformations in capital markets worldwide and the impact of those transformations. ‘Market making’ by humans in centralized markets has been replaced by supercomputers and algorithmic high frequency trading operating in often highly fragmented markets. How do recent market changes impact on core public policy objectives such as investor protection, reduction of systemic risk, fairness, efficiency, and transparency in markets? The operation and health of capital markets affect all of us and have profound implications for equality and justice in society. This unique set of chapters by leading scholars, industry insiders, and regulators sheds light on these and related questions and discusses ways to strengthen market governance for the benefit of society at large.

scholarly journals Applying Spam-Control Techniques To Negate High Frequency Trading Advantages

2011 ◽  
Vol 15 (2) ◽  
pp. 105
Author(s):  
Chris Rose
Keyword(s):  
High Frequency ◽  
High Frequency Trading ◽  
Open Market ◽  
Control Techniques ◽  
Dark Pools

High Frequency Traders undoubtedly have an advantage over the average trader or trading desk because they incorporate nefarious devices into their trading schemes such as Flash Trading, Dark Pools and Quote Stuffing. In addition, they usually locate their servers as close to the exchange servers as possible so their data travels the shortest possible distance. However, adding spam-control techniques to control all trades would negate these advantages and return trading to once again being an equitable, free and open market-based system.

The microgeographies of global finance: High-frequency trading and the construction of information inequality

2016 ◽  
Vol 49 (1) ◽  
pp. 121-140 ◽  
Author(s):  
Matthew Zook ◽  
Michael H Grote
Keyword(s):  
Capital Markets ◽  
High Frequency ◽  
Spatial Configuration ◽  
Computer Architectures ◽  
High Frequency Trading ◽  
Stock Exchanges ◽  
Global Finance ◽  
Market Participants ◽  
Trading Activities ◽  
Continuous Trading

Automated high-frequency trading has grown tremendously in the past 20 years and is responsible for about half of all trading activities at stock exchanges worldwide. Geography is central to the rise of high-frequency trading due to a market design of “continuous trading” that allows traders to engage in arbitrage based upon informational advantages built into the socio-technical assemblages that make up current capital markets. Enormous investments have been made in creating transmission technologies and optimizing computer architectures, all in an effort to shave milliseconds of order travel time (or latency) within and between markets. We show that as a result of the built spatial configuration of capital markets, “public” is no longer synonymous with “equal” information. High-frequency trading increases information inequalities between market participants.

A Framework for Responsive Market Regulation

2018 ◽  
pp. 332-358
Author(s):  
Timothy Baikie ◽  
Tracey Stern ◽  
Susan Greenglass ◽  
Maureen Jensen
Keyword(s):  
Capital Markets ◽  
High Frequency ◽  
High Frequency Trading ◽  
Market Regulation ◽  
Business Decisions ◽  
Regulatory Climate ◽  
Recent Developments ◽  
The Impact ◽  
Regulatory Landscape

This chapter submits that a regulator’s raison d’être is not simply to react to market issues but to be proactive and to follow and to understand the changes and the business decisions in the market. Regulators must be able to change and foster a responsive regulatory climate that allows innovation to occur, while ensuring that core principles such as investor protection are preserved and that the impact of any change is monitored. To that end, the chapter highlights the role of the Ontario Securities Commission in the Canadian regulatory landscape, and details how it has addressed the multitude of challenges posed by recent developments in Canadian capital markets, including the growth in dark liquidity and the emergence of high frequency trading.

High frequency trading and dark pools: An interview with John Succo

2013 ◽  
Vol 56 (6) ◽  
pp. 715-722 ◽  
Author(s):  
Emory Zink ◽  
W. Travis Selmier
Keyword(s):  
High Frequency ◽  
High Frequency Trading ◽  
Dark Pools
Sign in / Sign up

Export Citation Format

Share Document