Program Trading
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How to Get Started in Electronic Day Trading
Author: David S. Nassar
language: en
Publisher: McGraw Hill Professional
Release Date: 2001-10
This work capitalizes on the popular phenomenon of electronic trading, and is aimed at anyone interested in getting started in this area of stock trading. The book covers all the basics you need to get you started. It shows you: what computer equipment (hardware and software) is needed; it explains all the key electronic trading systems - SOES, Island, Instinet, SuperDOT - in simple terms; it explains the basic trading strategies; psychological and money management for the electronic trader; and provides a solid introduction to the topic.
Electronic and Algorithmic Trading Technology
Electronic and algorithmic trading has become part of a mainstream response to buy-side traders' need to move large blocks of shares with minimum market impact in today's complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larger order flow is becoming a reality. The higher reliance on electronic trading has had profound implications for vendors and users of information and trading products. Broker dealers providing solutions through their products are facing changes in their business models such as: relationships with sellside customers, relationships with buyside customers, the importance of broker neutrality, the role of direct market access, and the relationship with prime brokers. Electronic and Algorithmic Trading Technology: The Complete Guide is the ultimate guide to managers, institutional investors, broker dealers, and software vendors to better understand innovative technologies that can cut transaction costs, eliminate human error, boost trading efficiency and supplement productivity. As economic and regulatory pressures are driving financial institutions to seek efficiency gains by improving the quality of software systems, firms are devoting increasing amounts of financial and human capital to maintaining their competitive edge. This book is written to aid the management and development of IT systems for financial institutions. Although the book focuses on the securities industry, its solution framework can be applied to satisfy complex automation requirements within very different sectors of financial services – from payments and cash management, to insurance and securities. Electronic and Algorithmic Trading: The Complete Guide is geared toward all levels of technology, investment management and the financial service professionals responsible for developing and implementing cutting-edge technology. It outlines a complete framework for successfully building a software system that provides the functionalities required by the business model. It is revolutionary as the first guide to cover everything from the technologies to how to evaluate tools to best practices for IT management. - First book to address the hot topic of how systems can be designed to maximize the benefits of program and algorithmic trading - Outlines a complete framework for developing a software system that meets the needs of the firm's business model - Provides a robust system for making the build vs. buy decision based on business requirements
The Speed Traders: An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World
Author: Edgar Perez
language: en
Publisher: McGraw Hill Professional
Release Date: 2011-05-06
The secrets of high-frequency trading revealed! “Edgar’s book is fantastic . . . I recommend it highly.” —Bart Chilton, Commissioner, United States Commodity Futures Trading Commission (CFTC) “I have interviewed the most successful high-frequency traders in New York and Chicago, but I have learned so much more by reading Perez’s book. He covers the most relevant topics we need to know today and tomorrow.” —Mark Abeshouse, Chairman, Augustus Capital “Alternating between an annotated timeline of the development of high-frequency trading and interviews with top high-frequency traders, Perez illuminates the world of speed. All in all, an enlightening book.” —Brenda Jubin, contributor to Seeking Alpha “This is a comprehensive and compelling summary of the trading industry in general, as well as high-frequency trading. If you are interested in this field or of knowing a critical component of all future markets—read this book.” —Paul Dowding, Managing Director, Meridian Equity Partners “Very timely, covers the 2010 Flash Crash and the current high-frequency trading environment.” —Patrick Sweeney, Vice President, JP Morgan Chase “There is a new day in trading and speed is the key. Edgar Perez is the poster child.” —Eugene Steele, Managing Partner, Trading Rooms World Wide About the Book: High-frequency traders have been called many things—from masters of the universe and market pioneers to exploiters, computer geeks, and even predators. Everyone in the business of investing has an opinion of speed traders, but how many really understand how they operate? The shadow people of the investing world, today’s high-frequency traders have decidedly kept a low profile—until now. In The Speed Traders, Edgar Perez, founder of the prestigious business networking community Golden Networking, opens the door to the secretive world of high-frequency trading (HFT). Inside, prominent figures of HFT drop their guard and speak with unprecedented candidness about their trade. Perez begins with an overview of computerized trading, which formally began on February 8, 1971, when NASDAQ launched the world’s first electronic market with 2,500 over-the-counter stocks and which has evolved into the present-day practice of making multiple trades in a matter of microseconds. He then picks the brains of today’s top players. Manoj Narang (Tradeworx), Peter van Kleef (Lakeview Arbitrage), and Aaron Lebovitz (Infinium Capital Management) are just a few of the luminaries who decided to break their silence and speak openly to Perez. Virtually all of the expertise available from the world of speed trading is packed into these pages. You’ll get insight from HFT’s most influential trailblazers on the important issues, including: The basics of launching an HFT platform The important role speed traders play in providing market liquidity The real story behind the “flash crash” of May 2010 Emerging global HFT markets M&A and consolidation among the world’s biggest exchanges The Speed Traders is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. Essential reading for regulators and investors alike, The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time.
