Equity Markets in Action: The Fundamentals of Liquidity, Market Structure & Trading, ISBN-13: 978-0471469223

Description

Equity Markets in Action: The Fundamentals of Liquidity, Market Structure & Trading, ISBN-13: 978-0471469223

[PDF eBook eTextbook]

• CD not included!
• Publisher: ‎ Wiley (August 13, 2004)
• Language: ‎ English
• 480 pages
• ISBN-10: ‎ 9780471469223
• ISBN-13: ‎ 978-0471469223

This book is about liquidity, market structure, and trading. It is about the powerful combination of technological, competitive, and regulatory forces that have transformed equity markets on both sides of the Atlantic. It is about issues that have been debated for years and never been resolved, including market transparency, the consolidation of order flow, the nature of intermarket linkages and the vibrancy of intermarket competition.

If you trade too fast, you will push prices away from you. If you trade too slowly, you might miss the market. This is part of the real world of trading.

Our book is addressed to practitioners, academicians, and other students of the market. Market structure is intricate; we seek to give the reader the big picture concerning the interplay between liquidity, market structure, and trading. Trading is intricate, and one does not become a professional trader overnight; we seek to highlight the major considerations that are faced by those who facilitate the implementation of portfolio decisions and turn orders into trades. The material in this book is also relevant for portfolio theory and capital markets courses in MBA programs. Risk and return get the lion’s share of attention in standard MBA finance courses, while liquidity, the third attribute of a stock or portfolio, is typically ignored. We wish to rectify the imbalance.

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