IDEAS home Printed from https://ideas.repec.org/h/wsi/wschap/9789814566926_0008.html
   My bibliography  Save this book chapter

The Fast Track to the Futures: Technological Innovation, Market Microstructure, Market Participants, and the Regulation of High-Frequency Trading

In: THE WORLD SCIENTIFIC HANDBOOK OF FUTURES MARKETS

Author

Listed:
  • Barbara J. Mack

Abstract

As the international financial marketplace has evolved to encompass a wide range of tradable asset classes, tensions between classical investment theory, trading practices, and government regulations have grown. This chapter will map the history of modern trading, taking a close look at the products, venues, and technological underpinnings of today's futures markets. It will focus on high-frequency trading, assessing the varying roles and needs of investment elites, market makers, regulators, and the public in maintaining clean and orderly market mechanisms. Key questions include the role of market participants, hedgers, speculators, and arbitrageurs in high-frequency trading and price discovery, their influence over fluctuations in financial stability, and the implications for the financial system as a whole. The chapter will conclude with a look ahead in terms of the regulatory activities that will shape these mechanisms in the years to come, with comments on market microstructure, the provision of liquidity, and innovation in futures markets around the world.

Suggested Citation

  • Barbara J. Mack, 2015. "The Fast Track to the Futures: Technological Innovation, Market Microstructure, Market Participants, and the Regulation of High-Frequency Trading," World Scientific Book Chapters, in: Anastasios G Malliaris & William T Ziemba (ed.), THE WORLD SCIENTIFIC HANDBOOK OF FUTURES MARKETS, chapter 8, pages 247-285, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814566926_0008
    as

    Download full text from publisher

    File URL: https://www.worldscientific.com/doi/pdf/10.1142/9789814566926_0008
    Download Restriction: Ebook Access is available upon purchase.
    File URL: https://www.worldscientific.com/doi/abs/10.1142/9789814566926_0008
    Download Restriction: Ebook Access is available upon purchase.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:wschap:9789814566926_0008. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscientific.com/page/worldscibooks .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.