The new stock market :: law, economics, and policy /
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...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
New York :
Columbia University Press,
[2019]
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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. |
| Beschreibung: | 1 online resource (viii, 395 pages) |
| Bibliographie: | Includes bibliographical references and indexes. |
| ISBN: | 9780231543934 023154393X |
Internformat
MARC
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| 100 | 1 | |a Fox, Merritt B., |e author. |0 http://id.loc.gov/authorities/names/n77019326 | |
| 245 | 1 | 4 | |a The new stock market : |b law, economics, and policy / |c Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg. |
| 264 | 1 | |a New York : |b Columbia University Press, |c [2019] | |
| 264 | 4 | |c ©2019 | |
| 300 | |a 1 online resource (viii, 395 pages) | ||
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| 504 | |a Includes bibliographical references and indexes. | ||
| 505 | 0 | |a 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. | |
| 520 | |a 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. | ||
| 545 | 0 | |a Merritt B. Fox is the Michael E. Patterson Professor of Law at Columbia Law School, codirector of the Program in the Law and Economics of Capital Markets, and codirector of the Center for Law and Economic Studies. Lawrence R. Glosten is the S. Sloan Colt Professor of Banking and International Finance at Columbia Business School and codirector of the Program in the Law and Economics of Capital Markets. Gabriel V. Rauterberg is an assistant professor of law at the University of Michigan Law School. | |
| 588 | 0 | |a Print version record. | |
| 650 | 0 | |a Stock exchanges. |0 http://id.loc.gov/authorities/subjects/sh85128191 | |
| 650 | 0 | |a Securities. |0 http://id.loc.gov/authorities/subjects/sh85119463 | |
| 650 | 0 | |a Short selling (Securities) | |
| 650 | 6 | |a Bourse. | |
| 650 | 6 | |a Vente à découvert. | |
| 650 | 7 | |a exchange (method of acquisition) |2 aat | |
| 650 | 7 | |a stock exchanges. |2 aat | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Investments & Securities |x Stocks. |2 bisacsh | |
| 650 | 7 | |a Securities |2 fast | |
| 650 | 7 | |a Short selling (Securities) |2 fast | |
| 650 | 7 | |a Stock exchanges |2 fast | |
| 700 | 1 | |a Glosten, Lawrence R. |q (Lawrence Robert), |d 1951- |e author. |0 http://id.loc.gov/authorities/names/no2003118455 | |
| 700 | 1 | |a Rauterberg, Gabriel V., |e author. |0 http://id.loc.gov/authorities/names/n2018044926 | |
| 758 | |i has work: |a The new stock market (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGqrxjKq7H9CGQTc8GXWXd |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Fox, Merritt B. |t New stock market. |d New York : Columbia University Press, [2019] |z 9780231181969 |w (DLC) 2018021684 |w (OCoLC)1035460403 |
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Datensatz im Suchindex
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| author | Fox, Merritt B. Glosten, Lawrence R. (Lawrence Robert), 1951- Rauterberg, Gabriel V. |
| author_GND | http://id.loc.gov/authorities/names/n77019326 http://id.loc.gov/authorities/names/no2003118455 http://id.loc.gov/authorities/names/n2018044926 |
| author_facet | Fox, Merritt B. Glosten, Lawrence R. (Lawrence Robert), 1951- Rauterberg, Gabriel V. |
| author_role | aut aut aut |
| author_sort | Fox, Merritt B. |
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| callnumber-first | H - Social Science |
| callnumber-label | HG4551 |
| callnumber-raw | HG4551 .F69 2019 |
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| contents | 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. |
| ctrlnum | (OCoLC)1048036167 |
| dewey-full | 332.64/2 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.64/2 |
| dewey-search | 332.64/2 |
| dewey-sort | 3332.64 12 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| illustrated | Not Illustrated |
| indexdate | 2024-07-16T15:04:22Z |
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| publisher | Columbia University Press, |
| record_format | marc |
| spelling | Fox, Merritt B., author. http://id.loc.gov/authorities/names/n77019326 The new stock market : law, economics, and policy / Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg. New York : Columbia University Press, [2019] ©2019 1 online resource (viii, 395 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier nat Americans lcdgt Includes bibliographical references and indexes. 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. 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. Merritt B. Fox is the Michael E. Patterson Professor of Law at Columbia Law School, codirector of the Program in the Law and Economics of Capital Markets, and codirector of the Center for Law and Economic Studies. Lawrence R. Glosten is the S. Sloan Colt Professor of Banking and International Finance at Columbia Business School and codirector of the Program in the Law and Economics of Capital Markets. Gabriel V. Rauterberg is an assistant professor of law at the University of Michigan Law School. Print version record. Stock exchanges. http://id.loc.gov/authorities/subjects/sh85128191 Securities. http://id.loc.gov/authorities/subjects/sh85119463 Short selling (Securities) Bourse. Vente à découvert. exchange (method of acquisition) aat stock exchanges. aat BUSINESS & ECONOMICS Investments & Securities Stocks. bisacsh Securities fast Short selling (Securities) fast Stock exchanges fast Glosten, Lawrence R. (Lawrence Robert), 1951- author. http://id.loc.gov/authorities/names/no2003118455 Rauterberg, Gabriel V., author. http://id.loc.gov/authorities/names/n2018044926 has work: The new stock market (Text) https://id.oclc.org/worldcat/entity/E39PCGqrxjKq7H9CGQTc8GXWXd https://id.oclc.org/worldcat/ontology/hasWork Print version: Fox, Merritt B. New stock market. New York : Columbia University Press, [2019] 9780231181969 (DLC) 2018021684 (OCoLC)1035460403 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1977123 Volltext |
| spellingShingle | Fox, Merritt B. Glosten, Lawrence R. (Lawrence Robert), 1951- Rauterberg, Gabriel V. The new stock market : law, economics, and policy / 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. Stock exchanges. http://id.loc.gov/authorities/subjects/sh85128191 Securities. http://id.loc.gov/authorities/subjects/sh85119463 Short selling (Securities) Bourse. Vente à découvert. exchange (method of acquisition) aat stock exchanges. aat BUSINESS & ECONOMICS Investments & Securities Stocks. bisacsh Securities fast Short selling (Securities) fast Stock exchanges fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85128191 http://id.loc.gov/authorities/subjects/sh85119463 |
| title | The new stock market : law, economics, and policy / |
| title_auth | The new stock market : law, economics, and policy / |
| title_exact_search | The new stock market : law, economics, and policy / |
| title_full | The new stock market : law, economics, and policy / Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg. |
| title_fullStr | The new stock market : law, economics, and policy / Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg. |
| title_full_unstemmed | The new stock market : law, economics, and policy / Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg. |
| title_short | The new stock market : |
| title_sort | new stock market law economics and policy |
| title_sub | law, economics, and policy / |
| topic | Stock exchanges. http://id.loc.gov/authorities/subjects/sh85128191 Securities. http://id.loc.gov/authorities/subjects/sh85119463 Short selling (Securities) Bourse. Vente à découvert. exchange (method of acquisition) aat stock exchanges. aat BUSINESS & ECONOMICS Investments & Securities Stocks. bisacsh Securities fast Short selling (Securities) fast Stock exchanges fast |
| topic_facet | Stock exchanges. Securities. Short selling (Securities) Bourse. Vente à découvert. exchange (method of acquisition) stock exchanges. BUSINESS & ECONOMICS Investments & Securities Stocks. Securities Stock exchanges |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1977123 |
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