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001 184115
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008 220302t20192018nyu fo d z eng d
020 _a9780231181969
_qprint
020 _a9780231543934
_qPDF
024 7 _a10.7312/fox-18196
_2doi
035 _a(DE-B1597)9780231543934
035 _a(DE-B1597)517721
035 _a(OCoLC)1079008648
040 _aDE-B1597
_beng
_cDE-B1597
_erda
050 4 _aHG4551
_b.F69 2019
072 7 _aBUS036060
_2bisacsh
082 0 4 _a332.64/2
_223
084 _aonline - DeGruyter
100 1 _aFox, Merritt B.
_eautore
245 1 4 _aThe New Stock Market :
_bLaw, Economics, and Policy /
_cMerritt B. Fox, Lawrence Glosten, Gabriel Rauterberg.
264 1 _aNew York, NY :
_bColumbia University Press,
_c[2019]
264 4 _c©2018
300 _a1 online resource
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 0 _tFrontmatter --
_tContents --
_tAcknowledgments --
_tIntroduction --
_tPart 1: Foundations --
_t1. The Institutions and Regulation of Trading Markets --
_t2. The Social Function of Stock Markets --
_t3. The Economics of Trading Markets --
_tPart 2: Trading Market Practices --
_t4. High Frequency Trading --
_tPart 3: Regulation of Traders --
_t5. The Economics of Informed Trading --
_t6. The Regulation of Informed Trading --
_t7. Manipulation --
_t8. Short Selling --
_tPart 4: Regulation of Broker-Dealers --
_t9. Broker-Dealers --
_t10. Dark Pools --
_t11. Maker-Taker Fees --
_t12. Payment for Order Flow --
_tConclusion --
_tNotes --
_tName Index --
_tSubject Index
506 0 _arestricted access
_uhttp://purl.org/coar/access_right/c_16ec
_fonline access with authorization
_2star
520 _aThe 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.
530 _aIssued also in print.
538 _aMode of access: Internet via World Wide Web.
546 _aIn English.
588 0 _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022)
650 0 _aSecurities.
650 0 _aShort selling (Securities).
650 0 _aStock exchanges.
650 7 _aBUSINESS & ECONOMICS / Investments & Securities / Stocks.
_2bisacsh
700 1 _aGlosten, Lawrence
_eautore
700 1 _aRauterberg, Gabriel
_eautore
850 _aIT-RoAPU
856 4 0 _uhttps://doi.org/10.7312/fox-18196
856 4 0 _uhttps://www.degruyter.com/isbn/9780231543934
856 4 2 _3Cover
_uhttps://www.degruyter.com/document/cover/isbn/9780231543934/original
942 _cEB
999 _c184115
_d184115