Market Microstructure in Emerging and Developed Markets

Beschreibung

A comprehensive guide to the dynamic area of finance known asmarket microstructure Interest in market microstructure has grown dramatically inrecent years due largely in part to the rapid transformation of thefinancial market environment by technology, regulation, andglobalization. Looking at market transactions at the most granularlevel--and taking into account market structure, pricediscovery, information flows, transaction costs, and the tradingprocess--market microstructure also forms the basis ofhigh-frequency trading strategies that can help professionalinvestors generate profits and/or execute optimal transactions. Part of the Robert W. Kolb Series in Finance, MarketMicrostructure skillfully puts this discipline in perspectiveand examines how the working processes of markets impacttransaction costs, prices, quotes, volume, and trading behavior.Along the way, it offers valuable insights on how specific featuresof the trading process like the existence of intermediaries or theenvironment in which trading takes place affect the price formationprocess. * Explore issues including market structure and design,transaction costs, information flows, and disclosure * Addresses market microstructure in emerging markets * Covers the legal and regulatory issues impacting this area offinance * Contains contributions from both experienced financialprofessionals and respected academics in this field If you're looking to gain a firm understanding of marketmicrostructure, this book is the best place to start.

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H. Kent Baker

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