Algorithmic trading, the Flash Crash, and coordinated circuit breakers
نویسندگان
چکیده
منابع مشابه
Circuit Breakers and Program Trading Limits: What Have We Learned?
Exchanges adopted several circuit breakers and program trading limits following the 1987 Stock Market Crash. The intended purpose of these policies was to reduce volatility. Unfortunately, there has not been enough extreme volatility to conclusively determine whether they have been effective. The lack of volatility does not demonstrate their effectiveness since extreme volatility is very rare. ...
متن کاملA Glass half full: Contrarian trading in the flash crash
Stocks with better past returns crash more than other stocks on May 6, 2010. I find evidence that this is related to such stocks being unattractive to contrarian buyers. This suggests the importance of contrarian investors in stabilizing price fluctuations. However, the glass is half full---that the contrarian investors shun certain types of stocks limits the extent of price stability that reli...
متن کاملThermally Tripped Mems Circuit Breakers
The use of MEMS electrical switches as miniature electrically resettable circuit breakers is described. A prototype based on nickel thermal actuators on silicon has been fabricated and tested, and the performance is compared to analytical models. Trip currents of ≈ 300 mA are obtained, with trip times less than 50 ms. Temperature dependence of trip current is shown to be below 0.2%/K. The rel...
متن کاملPredictive Maintenance of Circuit Breakers
................................................................................................................................................ iii Acknowledgements.................................................................................................................................v Table of
متن کاملSingle Stock Circuit Breakers – Issues in Fragmented Markets
Since the May 6 th , 2010 flash crash in the U.S., appropriate measures ensuring safe, fair and reliable markets become more relevant from the perspective of investors and regulators. Circuit breakers in various forms are already implemented for individual markets to ensure price continuity and prevent potential market failure and crash scenarios. However, coordinated inter-market safeguards ha...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Borsa Istanbul Review
سال: 2013
ISSN: 2214-8450
DOI: 10.1016/j.bir.2013.10.003