High-frequency trading : elements, considerations, perspectives / Austin Massey, editor.

Format:

Book

Contributor:

Massey, Austin, editor.

Series:

Trade issues, policies and laws series.

Trade Issues, Policies and Laws

Language:

English

Subjects (All):

Electronic trading of securities.

Stock exchanges.

Speculation.

United States.

Physical Description:

1 online resource (180 p.)

Place of Publication:

New York : Nova Publishers, 2014.

Language Note:

English

Summary:

High-frequency trading (HFT) is a broad term without a precise legal or regulatory definition. It is used to describe what many characterize as a subset of algorithmic trading that involves very rapid placement of orders, in the realm of tiny fractions of a second. This book provides an overview of HFT in the equities and derivatives markets regulated by the SEC and the CFTC. It also examines the Flash Crash of 2010 and the role that HFT may have played, as well as recent regulatory developments.

Contents:

""HIGH-FREQUENCY TRADING: ELEMENTS, CONSIDERATIONS, PERSPECTIVES""; ""HIGH-FREQUENCY TRADING: ELEMENTS, CONSIDERATIONS, PERSPECTIVES""; ""Library of Congress Cataloging-in-Publication Data""; ""CONTENTS""; ""PREFACE""; ""Chapter 1: HIGH-FREQUENCY TRADING: BACKGROUND, CONCERNS, AND REGULATORY DEVELOPMENTS""; ""SUMMARY""; ""INTRODUCTION""; ""WHAT IS HIGH-FREQUENCY TRADING?""; ""ANALYSIS""; ""MARKET CRASHES""; ""REGULATORY ACTIVITY AND RESPONSE""; ""HFT IN FUTURES MARKETS AND THE CFTC""; ""Chapter 2: EQUITY MARKET STRUCTURE LITERATURE REVIEW PART II: HIGH FREQUENCY TRADING""

""I. HFT � OVERVIEW""""II. SUMMARY OF PAPERS""; ""III. DISCUSSION OF PAPERS""; ""IV. QUESTIONS FOR CONSIDERATION""; ""V. LIST OF REFERENCES""; ""Chapter 3: OPENING STATEMENT OF SENATOR CARL LEVIN, CHAIRMAN, PERMANENT SUBCOMMITTEE ON INVESTIGATIONS. HEARING ON ''CONFLICTS OF INTEREST, INVESTOR LOSS OF CONFIDENCE, AND HIGH SPEED TRADING IN U.S. STOCK MARKETS''""; ""MAKER-TAKER CONFLICT""; ""PAYMENT FOR ORDER FLOW CONFLICT""

""Chapter 4: OPENING STATEMENT OF SENATOR JOHN MCCAIN, PERMANENT SUBCOMMITTEEON INVESTIGATIONS. HEARINGON ''CONFLICTS OF INTEREST, INVESTOR LOSS OF CONFIDENCE, AND HIGH SPEED TRADING IN U.S. STOCK MARKETS''""""Chapter 5: TESTIMONY OF BRADLEY KATSUYAMA, PRESIDENT AND CEO, IEX GROUP, INC. HEARING ON ''CONFLICTS OF INTEREST, INVESTOR LOSS OF CONFIDENCE, AND HIGH SPEED TRADING IN U.S. STOCK MARKETS''""; ""INTRODUCTION""; ""CONCLUSION""

""Chapter 6: TESTIMONY OF JOSEPH BRENNAN, PRINCIPAL AND HEAD OF GLOBAL EQUITY INDEX GROUP, THE VANGUARD GROUP, INC. HEARING ON ''CONFLICTS OF INTEREST, INVESTOR LOSS OF CONFIDENCE, AND HIGH SPEED TRADING IN U.S. STOCK MARKETS''""""HIGH FREQUENCY TRADING""; ""REVIEW OF REGULATION NMS""; ""CONCLUSION""; ""Chapter 7: TESTIMONY OF ANDREI KIRILENKO, PROFESSOR OF THE PRACTICE OF FINANCE, MIT SLOAN SCHOOL OF MANAGEMENT. HEARING ON ''HIGH FREQUENCYAND AUTOMATED TRADINGIN FUTURES MARKETS''""; ""THE FLASH CRASH""; ""CONCENTRATION OF THE HFT INDUSTRY""; ""LATENCY""; ""RECOMMENDATIONS""; ""CONCLUSION""

""Chapter 8: TESTIMONY OF TERRENCE A. DUFFY, EXECUTIVE CHAIRMAN AND PRESIDENT, CME GROUP. HEARING ON ''HIGH FREQUENCY AND AUTOMATED TRADINGIN FUTURES MARKETS''""""Chapter 9: STATEMENT OF VINCENT MCGONAGLE, DIRECTOR OF THE DIVISION OF MARKET OVERSIGHT, COMMODITY FUTURES TRADING COMMISSION.HEARING ON ''HIGH FREQUENCYAND AUTOMATED TRADINGIN FUTURES MARKETS''""; ""I. INTRODUCTION""; ""II. BACKGROUND ON COMMODITY EXCHANGE ACT AND THE CFTC�S MISSION""; ""III. EXCHANGES� SELF-REGULATORY RESPONSIBILITIES AND CFTC OVERSIGHT""

""IV. EXPANSION OF CFTC ENFORCEMENT AUTHORITY UNDER DODD-FRANK AND NEW REGULATIONS RELEVANT TO AUTOMATED MARKETS""

Notes:

Includes index.

Description based on online resource; title from PDF title page (viewed on September 9, 2014).

ISBN:

1-63321-746-9

OCLC:

916949759