منابع مشابه
Electronic Trading on Futures Exchanges
To place an order under this method, the customer calls a broker, who time-stamps the order and prepares an office order ticket. The broker then sends the order to a booth on the exchange floor. There, a floor order ticket is prepared, and a clerk hand delivers the order to the floor trader for execution. In some cases, the floor clerk may use hand signals to convey the order to floor traders. ...
متن کاملIntelligent Electronic Trading for Commodity Exchanges
their preferences on those product dimensions. Since a single commodity market is made up of many heterogeneous goods that are close to each other but different in grade, quality and delivery conditions, preference satisfaction plays an important role in improving trade matches. In cotton markets, for instance, a cotton merchant may want to specify his preferences like " I prefer early delivery...
متن کاملThe Emergence of Electronic Trading in Global Financial Markets: Envisioning the Role of Futures Exchanges in the Next Millennium
∗ The authors names are given in alphabetical order, both authors contributed equally to this paper. Abstract: This paper presents a preliminary analysis of case study based research exploring the shift from traditional ‘open-outcry’ to electronic trading in the major futures Markets in London and Chicago. We outline the emergence of electronic trading in these Markets, with the aim of examinin...
متن کاملFloor versus Electronic Trading of Government Bond Futures
This paper analyses the impact of a transition from open outcry to electronic trading in the UK Long Gilt futures market. Price clustering behaviour is not materially affected, but there is an increased concentration of large trades at more popular prices. After automation, narrower bid-ask spreads tend to be associated with relatively smaller trades. There is a substantial reduction in mean tr...
متن کاملThe Impact of Electronic-Trading on the Relative Informational Efficiency of Index Futures Market
This study examines the impact of migration to electronic trading on the relative informational efficiency between an index futures contract and the underlying cash index. The recent move to electronic trading of the Hong Kong Hang Seng Index futures contract provides an opportunity to study how the change affects the effective bid and ask spread in the futures market and the dynamic relationsh...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1998
ISSN: 1556-5068
DOI: 10.2139/ssrn.997420