Electronic Trading on Futures Exchanges
نویسندگان
چکیده
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. Large orders typically go directly from the customer to the broker’s floor booth. January 1998 Volume 4 Number 1
منابع مشابه
The 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 کاملStrategic risk positioning as sensemaking in crisis: the adoption of electronic trading at the London international financial futures and options exchange
In this paper we describe a period of strategic crisis (1997–2000) at the London International Financial Futures and Options Exchange (LIFFE) precipitated by the loss of a key benchmark product from their manual trading environment to an electronic trading platform (DTB/Eurex). Using Bower and Christensen’s (1995a) notion of disruptive technology, our analysis starts by examining the response o...
متن کاملThe Structure of OTC Derivatives Markets
The purpose of this primer is to clarify some of the key characteristics of the over-the-counter (OTC) derivatives markets. A clearer picture of these markets will help legislators and regulators write better legislation and rules for the prudential regulation of OTC derivatives markets. (Note that this Primer is followed by a short list of key definitions used to describe OTC derivatives marke...
متن کاملAutomated Internet Trading Based on Optimized Physics Models of Markets
We describe a real-time, internet-based S&P futures trading system, including a description of general aspects of internet-mediated interactions with electronic exchanges. Inner-shell stochastic nonlinear dynamic models are developed, and Canonical Momenta Indicators (CMI) are derived from a fitted Lagrangian used by outer-shell trading models dependent on these indicators. Recursive and adapti...
متن کاملAutomated Trading Systems and the Concept of an "exchange" in an International Context Proprietary Systems: a Regulatory
In the age of rapidly evolving computer technology, the trading of securities and commodities, which traditionally has occurred on exchanges and commodity markets, is now also done on electronic systems. The degree of automation varies from system to system.' The speed and degree of automation is largely dependent on historical factors, such as the existence of a highly successful stock exchang...
متن کامل