Floor Rules : Insider Culture in Financial Markets / Mark W. Geiger.

Format:

Book

Author/Creator:

Geiger, Mark W.

Series:

Yale Series in Economic and Financial History Series

Language:

English

Subjects (All):

Trading rooms (Finance).

Physical Description:

1 online resource (287 pages)

Edition:

1st ed.

Place of Publication:

New Haven : Yale University Press, [2024]

Summary:

"A compelling account of how markets really govern themselves, and why they often baffle and outrage outsiders. One of the reasons many people believe financial markets are lawless and irrational--and rigged--is that they follow two sets of rules. The official rules, set by law or by the heads of the exchanges, exist alongside the unofficial rules, or floor rules--which are the ones that actually govern. Break the official rules and you may be fined or jailed; break the floor rules and you'll suffer worse: you will be ostracized. Regulations vary across markets, but the floor rules are remarkably consistent. This book, offering compelling stories of market disturbances in which insider rules played a key role, shows readers, without excessive moralizing, how markets really govern themselves. It is a study of the norms, customs, values, and operating modes of the insiders at the center of the financial markets that trade money, stocks, bonds, futures, and other financial derivatives. The core insiders who rule trading markets are a relatively small group who exert disproportionate influence on financial systems. Mark W. Geiger examines the historical roots of the culture of financial markets, describes the role insiders play in today's high finance, and suggests where this peculiar, ingrown culture is heading in an era of constant technological change."--Amazon.

Contents:

Cover

Half Title

Title Page

Copyright Page

Dedication

Contents

Preface

Acknowledgments

List of Abbreviations

Introduction

1. New York, 1866: The Greatest Stock Operator on Wall Street

2. Chicago, 1888: Off-Color Man from the East

3. The Chicago Board of Trade, 1910-1940: Longitudinal Network Analysis

4. London, 2005-2012: "It's a Cartel Now in London"

5. New York, 2015-2022: "What Is Said on Chat, Stays on Chat"

Conclusion

Appendix 1. Industry Statistics

Appendix 2. Sources and Methods

Notes

Bibliography

Index.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9780300280357

0300280351

OCLC:

1458758266