عنوان

The new stock market :

(Number (ISBN

023154393X

(Number (ISBN

9780231543934

Erroneous ISBN

9780231181969

Title Proper

The new stock market :

General Material Designation

[Book]

Other Title Information

law, economics, and policy /

First Statement of Responsibility

Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg.

Place of Publication, Distribution, etc.

New York :

Name of Publisher, Distributor, etc.

Columbia University Press,

Date of Publication, Distribution, etc.

[2019]

Specific Material Designation and Extent of Item

1 online resource (viii, 395 pages)

Text of Note

Includes bibliographical references and index.

Text of Note

The institutions and regulation of trading markets -- The social function of stock markets -- The economics of trading markets -- High frequency trading -- The economics of informed trading -- The regulation of informed trading -- Manipulation -- Short selling -- Broker-dealers -- Dark pools -- Maker-taker fees -- Payment for order flow -- Conclusion.

0

Text of Note

The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as "dark pools." These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets' institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market's regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.

Source for Acquisition/Subscription Address

JSTOR

Stock Number

22573/ctv928zc8

Title

New stock market.

International Standard Book Number

9780231181969

Securities.

Short selling (Securities)

Stock exchanges.

BUSINESS & ECONOMICS-- Investments & Securities-- Stocks.

Securities.

Short selling (Securities)

Stock exchanges.

BUS-- 036060

LAW-- 001000

LAW-- 009000

LAW-- 083000

Number

Edition

Class number

Book number

Fox, Merritt B.

Glosten, Lawrence R., (Lawrence Robert),1951-

Rauterberg, Gabriel V.

Date of Transaction

20200822103423.0

Cataloguing Rules (Descriptive Conventions))

pn

Electronic name

[Book]

Y