By R. Tee Williams
Networks, structures, and information sign up for the monetary markets right into a unmarried interrelated surroundings that strategies hundreds of thousands of transactions in genuine time. This quantity, the 3rd of 4, investigates the interconnected nature of economic markets by analyzing networks, platforms, and knowledge in turn. Describing what applied sciences do rather than how they paintings, the book shows how they drive each one step of the buying and selling process. We research why the rate and scope of monetary automation are starting to be, and we notice the increasing significance of information within the regulatory process. Contributing to those causes are visible cues that advisor readers in the course of the material. If wisdom comes from details, then this quantity unearths a lot concerning the center of the finance industry.* Explains how applied sciences and knowledge make the monetary markets probably the most automatic industries
* Describes how every one step within the buying and selling procedure employs know-how and generates information
* provides significant recommendations with graphs and simply understood definitions
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Additional info for An Introduction to Trading in the Financial Markets SET: An Introduction to Trading in the Financial Markets: Technology: Systems, Data, and Networks
Similarly, clearing corporations send out margin calls when changes in the price of instruments awaiting settlement cause one or another participant in a trade to have an incentive not to settle. 3). Normal daily processes such as portfolio management and customer reporting are examples of activities. , those of the buy-side trader) precipitate events such as executions. We can think of activities as actions affecting the trading markets that can be planned for and controlled within an entity, whereas events cannot be fully predicted and controlled.
For supporting entities, a customer may be called a member or participant, but for our purposes all these terms require similar or analogous information for technological purposes. Concepts Instruments Instruments are the focus of trading and the primary reason the markets exist, so naturally they represent an elemental unit. More importantly, however, instruments as initially described in Book 1, Part 2, and again in Book 2, Part 3, have an array of different attributes (instrument to instrument) that create much of the complexity that affects technology, and the features of instruments described in Book 2 account for a major portion of the events considered here.
In Part 3 of this book, we describe the services of vendors that provide most of the information, including prices, required to control the investment and trading processes. One of the complex events affecting market prices occurs when a capital change occurs to an instrument that is part of a portfolio or where the prices are needed for analysis. When an event such as a stock split or dividend occurs for an instrument, it is necessary to adjust the market prices retroactively to reflect the capital change.