Market Making And The Changing Structure Of The Securities Industry

This is a reprnit of a previously published book. it deals with changes on the U.S. financial market by the Securities Acts Amendment of 1975.

An in-depth look at the nature of market making and exchanges From theory to practicalities, this is a comprehensive, up-to-date handbook and reference on how markets work and the nuances of trading. It includes a CD with an interactive trading simulation. Robert A. Schwartz, PhD (New York, NY), is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. Reto Francioni, PhD (Zurich, Switzerland), is President and Chairman of the Board of SWX, the Swiss Stock Exchange, and former co-CEO of Consors Discount Broker AG, Nuremberg.

Information Technology (IT) - the field that links computer and communications equipment and software - is transforming the way modern business is done. Examples of factors leading these changes are: rapidly decreasing costs of computer hardware, government de-regulation, accelerating global competitiveness, an increasing management awareness, and the knowledge of how to employ Information Technology successfully. These have all led to the increase of IT's effects on existing markets, and, in the process, are creating entirely new markets. This book explores a variety of advances in IT by a group of researchers who are at the cutting edge of this research. Moreover, the book examines these innovative developments in terms of the Information Technology field and its effect on modern business. It is becoming increasingly apparent that IT is critical to success in today's competitive marketplace. As a result, this book examines a host of emerging effects at work in these developments and seeks to make sense out of these counter-acting, sometimes multiplicative, effects which can become obstacles for managers who wish to develop competitive applications of IT. These effects and the development of IT are grouped into four general categories in the book: Future Markets, Inter-Organizational Systems, Focused Applications, and Future Strategies.

This book offers a look at equity markets and what they have experienced since the 1997 Order Handling Rules were instituted. Specifically, it examines the tremendous technology innovation, intensified competition between an expanding set of alternative trading venues, and continuing regulatory changes that have occurred. Who have been the key initiators? How has market quality evolved over this period in response? What further structural and regulatory changes are still needed? These are among the key questions addressed in the volume, titled after the Baruch College Financial Markets Conference entitled Rapidly Changing Securities Markets: Who are the Initiators? The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

The Encyclopedia of Finance comprehensively covers the broad spectrum of terms and topics relating finance from asset pricing models to option pricing models to risk management and beyond. This third edition is comprised of over 1,300 individual definitions, chapters, appendices and is the most comprehensive and up-to-date resource in the field, integrating the most current terminology, research, theory, and practical applications. It includes 200 new terms and essays; 25 new chapters and four new appendices. Showcasing contributions from an international array of experts, the revised edition of this major reference work is unparalleled in the breadth and depth of its coverage.

This book is an economic analysis of the stock exchange industry. The authors draw on theories from micro- and industrial economics to provide a detailed analysis of the industry structure, the strategic behaviour of key participants and the performance of stock exchanges.

Towards the Knowledge Society is a state-of-the-art book covering innovative trends in the design, implementation and dissemination of eCommerce, eBusiness, and eGovernment. The book contains recent results of research and development in the areas of: - eGoverment; | - eMarkets; - eLearning; - eBusiness (B2B and B2C); - Trust, Security and Fraud; - Public Services and Health; - Design of I.S., Web and Technology Systems; - Applications and Procedures for eCommerce/eBusiness. Towards the Knowledge Society comprises the proceedings of I3E 2002, the Second International Conference on eCommerce, eBusiness, eGovernment, which was sponsored by the International Federation for Information Processing (IFIP) and held in Lisbon, Portugal in October 2002.