The Dutch flower auctions have play a critical role in the world cut-flower industry by providing efficient centers for price determination and transactions of flowers between buyers and sellers. These auctions owned by by Dutch cut-flower grower cooperatives have traditionally used the "Dutch auction" as the mechanism for price determination. This paper considers how changing patterns of inter...

The author is a visiting faculty member in economics at Caltech. At the time the original version of this paper was written, he was Managing Director at First Quadrant 2 , with responsibility for global active equity portfolios totaling $6 billon. Dr. Leinweber has a long background in electronic trading. He is the inventor of MarketMind, the expert system now incorporated in ITG's Quantex prod...

The application of Internet as a media for distance education has been showing an exponential growth, generating the necessity for new configurations of the existent media, as well as a new parameter of analysis. This work presents the planning process and construction of a WWW site for academic orientation at a distance, to be used in the M.A. Program in Logistics offered to students of PETROB...

EDI should not be seen as a competitive weapon it does not offer a sustainable competitive advantage to its users as did the earlier inter-organisational systems (such as the various airline reservation systems). Instead EDI provides a standardised infrastructure upon which an adopting organisation can reengineer its business processes and thus confers a long-term, strategic and comparative adv...

Electronic markets and automated trading have resulted in a drastic increase in the quantity and complexity of regulatory data. Regulatory analysis now includes detailed analysis of all messaging and communications related to electronic limit order books. New order types, intra-market behavior and other exchange functionality further complicate analysis. Data visualizations have proven to be a ...

We examine the correlation of the limit price with the order book, when a limit order comes. We analyzed the Rebuild Order Book of Stock Exchange Electronic Trading Service, which is the centralized order book market of London Stock Exchange. As a result, the limit price is broadly distributed around the best price according to a power-law, and it isn’t randomly drawn from the distribution, but...

The use of standards to support the electronic execution of parts of a business transaction could provide substantial benefit. However, underestimating the need to evaluate the fit between the business requirements and the capabilities of a standard to meet these requirements (at an early stage of a standard implementation project) can lead to problems and even project failure. Currently there ...

Because small and medium sized businesses form the basis of the national economy, creating conditions under which they can maintain stable growth in a more competitive environment is a principal challenge for continuous economic growth. Due to a lack of managerial resources in practice, however, they experience difficulties in raising funds and accessing the financial market. On the other hand,...

We compare average impulse response of rate of return curves computed from more than sixty-seven years of historical Dow Jones Industrial, Transportation, and Utility Average closing values. The curves are relatively consistent in shape until the 1990s, when marked changes, indicative of improved market efficiency, occur for the Dow Jones Industrial Average. We argue that the effect is a result...