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The Behavior Of Bid Ask Spreads And Volume In Options Markets During The Competition For Listings In 1999
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Book Synopsis The Behavior of Bid-Ask Spreads and Volume in Options Markets During the Competition for Listings in 1999 by : Patrick de Fontnouvelle
Download or read book The Behavior of Bid-Ask Spreads and Volume in Options Markets During the Competition for Listings in 1999 written by Patrick de Fontnouvelle and published by . This book was released on 2003 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: In August 1999, U.S. exchanges began to compete directly for order flow in many options that had been exclusively listed on another exchange, shifting 37 percent of option volume to multiple-listing status by the end of September. Effective and quoted bid-ask spreads decrease significantly after multiple listing with spreads generally maintaining their initial lower levels one year later. These results hold for both time series and pooled regressions and are robust. We reject that economies of scale in market making cause the decrease in spreads and support the view that inter-exchange competition reduces option transaction costs.
Book Synopsis Advances in Business and Management Forecasting by : Kenneth D. Lawrence
Download or read book Advances in Business and Management Forecasting written by Kenneth D. Lawrence and published by Emerald Group Publishing. This book was released on 2008-01-25 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes sections devoted to financial applications of forecasting, as well as demand forecasting. This publication also includes a section on general business applications of forecasting, as well as one on forecasting methodologies.
Book Synopsis SEC Docket by : United States. Securities and Exchange Commission
Download or read book SEC Docket written by United States. Securities and Exchange Commission and published by . This book was released on 2004 with total page 1498 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Securities Markets by : Richard J. Hillman (au)
Download or read book Securities Markets written by Richard J. Hillman (au) and published by DIANE Publishing. This book was released on 2005-11 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: In early 2001, U.S. stock & option markets began quoting prices in decimal increments rather than fractions of a dollar. At the same time, the minimum price increment, or tick size, was reduced to a penny on the stock markets & to 10¢ & 5¢ on the option markets. Although many believe that decimal pricing has benefited small individual (retail) investors, concerns have been raised that the smaller tick sizes have made trading more challenging & costly for large institutional investors, including mutual funds & pension plans. The financial livelihood of market intermediaries may also have been negatively affected by the lower ticks. This report assesses the effect of decimal pricing on retail & institutional investors & on market intermediaries. Charts.
Author :United States. Government Accountability Office Publisher :DIANE Publishing ISBN 13 :1428931864 Total Pages :124 pages Book Rating :4.4/5 (289 download)
Book Synopsis Securities Markets by : United States. Government Accountability Office
Download or read book Securities Markets written by United States. Government Accountability Office and published by DIANE Publishing. This book was released on 2005 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reform of the Over-the-counter Derivative Market by : United States. Congress. House. Committee on Financial Services
Download or read book Reform of the Over-the-counter Derivative Market written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2010 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Microstructure and Nonlinear Dynamics by : Gilles Dufrénot
Download or read book Market Microstructure and Nonlinear Dynamics written by Gilles Dufrénot and published by Springer. This book was released on 2014-07-14 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses market microstructure environment within the context of the global financial crisis. In the first part, the market microstructure theory is recalled and the main microstructure models and hypotheses are discussed. The second part focuses on the main effects of the financial downturn through an examination of market microstructure dynamics. In particular, the effects of market imperfections and the limitations associated with microstructure models are discussed. Finally, the new regulations and recent developments for financial markets that aim to improve the market microstructure are discussed. Well-known experts on the subject contribute to the chapters in the book. A must-read for academic researchers, students and quantitative practitioners.
Book Synopsis Financial Derivatives by : Rob Quail
Download or read book Financial Derivatives written by Rob Quail and published by John Wiley & Sons. This book was released on 2009-10-15 with total page 627 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential insights on the various aspects of financial derivatives If you want to understand derivatives without getting bogged down by the mathematics surrounding their pricing and valuation, Financial Derivatives is the book for you. Through in-depth insights gleaned from years of financial experience, Robert Kolb and James Overdahl clearly explain what derivatives are and how you can prudently use them within the context of your underlying business activities. Financial Derivatives introduces you to the wide range of markets for financial derivatives. This invaluable guide offers a broad overview of the different types of derivatives-futures, options, swaps, and structured products-while focusing on the principles that determine market prices. This comprehensive resource also provides a thorough introduction to financial derivatives and their importance to risk management in a corporate setting. Filled with helpful tables and charts, Financial Derivatives offers a wealth of knowledge on futures, options, swaps, financial engineering, and structured products. Discusses what derivatives are and how you can prudently implement them within the context of your underlying business activities Provides thorough coverage of financial derivatives and their role in risk management Explores financial derivatives without getting bogged down by the mathematics surrounding their pricing and valuation This informative guide will help you unlock the incredible potential of financial derivatives.
Book Synopsis Market Liquidity by : Thierry Foucault
Download or read book Market Liquidity written by Thierry Foucault and published by Oxford University Press. This book was released on 2023 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The process by which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. This book offers a more accurate and authoritative take on this process. The book starts from the assumption that not everyone is present at all times simultaneously on the market, and that participants have quite diverse information about the security's fundamentals. As a result, the order flow is a complex mix of information and noise, and a consensus price only emerges gradually over time as the trading process evolves and the participants interpret the actions of other traders. Thus, a security's actual transaction price may deviate from its fundamental value, as it would be assessed by a fully informed set of investors. The book takes these deviations seriously, and explains why and how they emerge in the trading process and are eventually eliminated. The authors draw on a vast body of theoretical insights and empirical findings on security price formation that have come to form a well-defined field within financial economics known as "market microstructure." Focusing on liquidity and price discovery, the book analyzes the tension between the two, pointing out that when price-relevant information reaches the market through trading pressure rather than through a public announcement, liquidity may suffer. It also confronts many striking phenomena in securities markets and uses the analytical tools and empirical methods of market microstructure to understand them. These include issues such as why liquidity changes over time and differs across securities, why large trades move prices up or down, and why these price changes are subsequently reversed, and why we observe temporary deviations from asset fair values"--
Book Synopsis Value Creation in E-Business Management by : Matthew L. Nelson
Download or read book Value Creation in E-Business Management written by Matthew L. Nelson and published by Springer Science & Business Media. This book was released on 2009-08-07 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent economic, political, and technological forces are changing the landscape of electronic business and electronic commerce. Although great strides have been made over the past in understanding, researching and advancing e-business, rarely have we witnessed its use so profound and yet its limitations so pronounced, than what has been on global public display for the past 18 months. As a result, new e-commerce strategies and techniques are emerging, collaborative value creation is essential and e-business models are being refined and developed, with special attention towards IS in financial markets, health care and related institutions. It is for these reasons (and many more) that we are so particularly excited and grateful for the collection of papers included in this Value Creation in e-Business Management LNBIP volume number 36. The papers selected in this volume address these emerging e-business issues and are organized into four research lines: Business Models for the Digital Economy, Electronic and Mobile Commerce Behavioral and Global Issues, IS in Financial M- kets and Institutions, Web 2. 0 and E-Commerce and Collaborative Value Creation. The first group, Business Models for the Digital Economy, provides a closer exami- tion of business models from a rich mixture of segments in the IT industry. They - clude Hoyer and Stanoevska-Slabeva’s business model types for enterprise mashup intermediaries, Riehle’s ‘commercial’ open source business model, Chen’s interesting comparison between i-Phone versus Kindles in electronic book sales, and Lyons and coauthors business models in emerging online services.
Download or read book The Journal of Derivatives written by and published by . This book was released on 2007 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Federal Securities Law Reporter by :
Download or read book Federal Securities Law Reporter written by and published by . This book was released on 1941 with total page 2572 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Demand-based Option Pricing by : Nicolae Garleanu
Download or read book Demand-based Option Pricing written by Nicolae Garleanu and published by . This book was released on 2006 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We model the demand-pressure effect on prices when options cannot be perfectly hedged. The model shows that demand pressure in one option contract increases its price by an amount proportional to the variance of the unhedgeable part of the option. Similarly, the demand pressure increases the price of any other option by an amount proportional to the covariance of their unhedgeable parts. Empirically, we identify aggregate positions of dealers and end users using a unique dataset, and show that demand-pressure effects help explain well-known option-pricing puzzles. First, end users are net long index options, especially out-of-money puts, which helps explain their apparent expensiveness and the smirk. Second, demand patterns help explain the prices of single-stock options.
Book Synopsis Journal of Investment Management by :
Download or read book Journal of Investment Management written by and published by . This book was released on 2005 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Markets: Derivative and foreign exchange markets by : Jeff Madura
Download or read book Financial Markets: Derivative and foreign exchange markets written by Jeff Madura and published by . This book was released on 2004 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Illustrates the progress that has been made in financial markets and assesses innovations that provide solutions to dilemmas and increase efficiency. These articles break down the complex web of relationships between the financial intermediary, the managers of corporations, shareholders, creditors, analysts and regulators.
Book Synopsis Competition, Market Structure and Bid-Ask Spreads in Stock Option Markets by : Stewart Mayhew
Download or read book Competition, Market Structure and Bid-Ask Spreads in Stock Option Markets written by Stewart Mayhew and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects of competition and market structure on the bid-ask spreads for stock options traded on the Chicago Board Options Exchange (CBOE) between 1986 and 1997. Options listed on multiple exchanges are found to have narrower spreads than those listed on a single exchange, but the difference is smaller for effective spreads than quoted spreads, and the effect diminishes as option volume increases. Option spreads become wider when a competing exchange delists the option. Options traded under a quot;Designated Primary MarketMakerquot; (DPM) are found to have narrower quoted spreads than those traded in a traditional open outcry crowd. Effective spreads are found to be slightly narrower under the DPM than in the crowd, but only since 1992, and only on low-volume options.
Book Synopsis Aanwinsten van de Centrale Bibliotheek (Queteletfonds) by : Bibliothèque centrale (Fonds Quetelet)
Download or read book Aanwinsten van de Centrale Bibliotheek (Queteletfonds) written by Bibliothèque centrale (Fonds Quetelet) and published by . This book was released on 2004 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
