Chargement en cours…
Darkness by Design : The Hidden Power in Global Capital Markets /
An expose of fragmented trading platforms, poor governance, and exploitative practices in today's capital marketsCapital markets have undergone a dramatic transformation in the past two decades. Algorithmic high-speed supercomputing has replaced traditional floor trading and human market makers...
| Auteur principal: | |
|---|---|
| Format: | Électronique eBook |
| Langue: | Inglés |
| Publié: |
Princeton :
Princeton University Press,
2019.
|
| Collection: | Book collections on Project MUSE.
|
| Sujets: | |
| Accès en ligne: | Texto completo |
Table des matières:
- Cover; Title; Copyright; Dedication; CONTENTS; Figures and Tables; 1 Introduction; A Deeply Puzzling Market Transformation; Power Politics and Market Governance; 2 The Puzzling Transformation of Capital Market Structure: From Gradual Concentration to Sudden Fragmentation; The Evolution of the Market Organization and Its Body Politic; The Transformation of Power Relationships among Members; The Impact of Power Asymmetry; Implications; Appendix; 3 Good Governance in Centralized Markets: The Old NYSE; The Market Makers: Functions and Obligations; Market Surveillance; Rule Enforcement
- Market Performance and QualityMoving into the Twenty-First Century; 4 Stratification in Modern Trading: The Haves and Have-Nots; Speed; Globalization, Financial Innovation, and Stratification; 5 Bad Governance in Fragmented Markets; Weakened Market-Making Obligations; Information Asymmetry: Trading Data; Information Asymmetry:Market Microstructure; Darkness; Failing Market Surveillance; Implications; Appendix; 6 Conclusion: The Way Forward; Market Transparency; Leveling the Playing Field; Proper Accountability for Market Disruption and Bad Governance; Consolidation; Acknowledgments
- Appendix: Market Governance: A Theoretical Background NoteA Political Organization Approach in Relation to Other Theories; Behavioral Assumption: Opportunism; Glossary; Notes; Bibliography; Index