| 书目名称 | Strategic Trading in Illiquid Markets | | 编辑 | Burkart Mönch | | 视频video | | | 丛书名称 | Lecture Notes in Economics and Mathematical Systems | | 图书封面 |  | | 描述 | The Area of Research and the Object of Investigation In this thesis we will investigate trading strategies in illiquid markets from a market microstructure perspective. Market microstructure is the academic term for the branch of financial economics that investigates trading and the organization of security markets, see, e. g. , Harris (2002). Historically, exchanges evolved as a location, where those interested in buy ing or selling securities could meet physically to transact. Thus, traditionally security trading was organized on exchange floors, where so-called dealers arranged all trades and provided liquidity by quoting prices at which they were willing buy or sell. Consequently, the initial surge of the market mi crostructure literature focused predominantly on this type of market design, which is often referred to as quote-driven. Nowadays, the interest is shifting towards order-driven markets. Beginning with the Toronto Stock Exchange in the mid 1970s and increasing in fre quency and scope, this market structure has emerged as the preeminent form of security trading worldwide. In order-driven markets, exchanges arrange trades by matching public orders, often by employing | | 出版日期 | Book 2005 | | 关键词 | Iceberg Order; Liquidation; Liquidity; Market Microstructure; Order Book; Order Submission; Trading; Tradin | | 版次 | 1 | | doi | https://doi.org/10.1007/b137407 | | isbn_softcover | 978-3-540-25039-5 | | isbn_ebook | 978-3-540-26315-9Series ISSN 0075-8442 Series E-ISSN 2196-9957 | | issn_series | 0075-8442 | | copyright | Springer-Verlag Berlin Heidelberg 2005 |
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发表于 2025-3-21 18:13:37
