AN ASSESSMENT OF THE SOCIAL DESIRABILITY of high-frequency trading

被引：0
|
作者：
Satchell, Stephen [1 ,2 ]
机构：
[1] Univ Cambridge, Trinity Coll, Cambridge, England
[2] Univ Sydney, Discipline Finance, Sydney, NSW, Australia
来源：
JASSA-THE FINSIA JOURNAL OF APPLIED FINANCE | 2012年 / 03期
关键词：
high-frequency trading; liquidity; price discovery; multilateral trading facilities;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
While much has been written on the vast topic of high-frequency trading (HFT), a great deal of the evidence has been contaminated by group self-interest. Furthermore, what constitutes a 'good' or a 'bad' is not clearly discussed. This paper presents an assessment of the costs and benefits of HFT and considers the more philosophical question as to what good or bad might mean here. (1) The paper formed the basis of a presentation given at JP Morgan, Sydney on 22 March 2012.
引用
收藏
页码：7 / 11
页数：5
相关论文
共 50 条
  • [1] High-frequency Trading
    Rebonato, Riccardo
    QUANTITATIVE FINANCE, 2015, 15 (08) : 1267 - 1271
  • [2] High-frequency trading
    Chordia, Tarun
    Goyal, Amit
    Lehmann, Bruce N.
    Saar, Gideon
    JOURNAL OF FINANCIAL MARKETS, 2013, 16 (04) : 637 - 645
  • [3] High-frequency trading and institutional trading costs
    Chen, Marie
    Garriott, Corey
    JOURNAL OF EMPIRICAL FINANCE, 2020, 56 : 74 - 93
  • [4] Computerized and High-Frequency Trading
    Goldstein, Michael A.
    Kumar, Pavitra
    Graves, Frank C.
    FINANCIAL REVIEW, 2014, 49 (02) : 177 - 202
  • [5] Algorithmic and High-Frequency Trading
    Rosenbaum, Mathieu
    QUANTITATIVE FINANCE, 2018, 18 (01) : 7 - 8
  • [6] IT Infrastructure for High-Frequency Trading
    Carasik, Bob
    TWELFTH WUHAN INTERNATIONAL CONFERENCE ON E-BUSINESS, 2013, : 9 - 13
  • [7] High-Frequency Trading Competition
    Brogaard, Jonathan
    Garriott, Corey
    JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 2019, 54 (04) : 1469 - 1497
  • [8] High-Frequency Trading Strategies
    Goldstein, Michael
    Kwan, Amy
    Philip, Richard
    MANAGEMENT SCIENCE, 2023, 69 (08) : 4413 - 4434
  • [9] ALGORITHMIC AND HIGH-FREQUENCY TRADING
    Sajter, Domagoj
    EKONOMSKA MISAO I PRAKSA-ECONOMIC THOUGHT AND PRACTICE, 2013, 22 (01): : 321 - 335
  • [10] High-frequency trading model for a complex trading hierarchy
    Podobnik, Boris
    Wang, Duan
    Stanley, H. Eugene
    QUANTITATIVE FINANCE, 2012, 12 (04) : 559 - 566
12345