IDEAS home Printed from https://ideas.repec.org/p/cir/cirpro/1997rp-04.html
   My bibliography  Save this paper

L'Architecture Informatique des Marchés Intelligents

Author

Listed:
  • Marie Corriveau
  • Robert Gérin-Lajoie

Abstract

The smart market is a global market where different sellers and buyers dynamically negociate price and quantity. Thoses negociations find net exchange, and after optimmization, optimal bilateral exchange. This paper present a round up of auctions mechanisms and the architecture of a generic smart market system in Java. The GAMME project goal is to develop the generic expertise needed to build smart markets on the information highway in developping exchange mecanisms, the sofware, the test tools and simulation tools needed to build pilot projects. Le marché intelligent est un marché où les différents vendeurs et acheteurs négocient dynamiquement les prix et les quantités. Ces négociations génèrent les échanges nets, puis après optimisation, les échanges bilatéraux. Au Québec, l'industrie du porc a été la première à se doter d'un marché intelligent. Ce texte présente une topologie des différents mécanismes d'enchères et l'architecture d un système de marché intelligent en Java. Le projet GAMME vise à développer l'expertise générique nécessaire pour mettre en oeuvre des marchés intelligents sur l'inforoute en développant des mécanismes d'échange performants et en créant les logiciels ainsi que les outils de test et de simulation nécessaires afin de mettre sur pied des projets pilotes. pilotes.

Suggested Citation

  • Marie Corriveau & Robert Gérin-Lajoie, 1997. "L'Architecture Informatique des Marchés Intelligents," CIRANO Project Reports 1997rp-04, CIRANO.
    • Handle: RePEc:cir:cirpro:1997rp-04
    as

    Download full text from publisher

    File URL: https://cirano.qc.ca/files/publications/1997RP-04.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Domowitz, Ian, 1990. "The mechanics of automated trade execution systems," Journal of Financial Intermediation, Elsevier, vol. 1(2), pages 167-194, June.
    2. Cramton, Peter C, 1995. "Money Out of Thin Air: The Nationwide Narrowband PCS Auction," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 4(2), pages 267-343, Summer.
    3. Domowitz, Ian & Wang, Jianxin, 1994. "Auctions as algorithms : Computerized trade execution and price discovery," Journal of Economic Dynamics and Control, Elsevier, vol. 18(1), pages 29-60, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ian Domowitz, 1993. "Equally open and competitive: Regulatory approval of automated trade execution in the futures markets," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 13(1), pages 93-113, February.
    2. Rosita P. Chang & Shuh‐Tzy Hsu & Nai‐Kuan Huang & S. Ghon Rhee, 1999. "The Effects of Trading Methods on Volatility and Liquidity: Evidence from the Taiwan Stock Exchange," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 26(1‐2), pages 137-170, January.
    3. Victor Lebreton, 2007. "Le trading algorithmique," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00332823, HAL.
    4. Bollerslev, Tim & Domowitz, Ian & Wang, Jianxin, 1997. "Order flow and the bid-ask spread: An empirical probability model of screen-based trading," Journal of Economic Dynamics and Control, Elsevier, vol. 21(8-9), pages 1471-1491, June.
    5. Rosita P. Chang & Shuh-Tzy Hsu & Nai-Kuan Huang & S. Ghon Rhee, 1999. "The Effects of Trading Methods on Volatility and Liquidity: Evidence from the Taiwan Stock Exchange," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 26(1-2), pages 137-170.
    6. Domowitz, I. El-Gamal, M., 1997. "Financial Market Structure and the Ergocicity of Prices," Working papers 9719, Wisconsin Madison - Social Systems.
    7. Nicolas Gruyer & Nathalie Lenoir, 2003. "Auctioning airport slots (?)," Post-Print hal-01021718, HAL.
    8. Matoso, Rafael & Rezende, Marcelo, 2014. "Asymmetric information in oil and gas lease auctions with a national company," International Journal of Industrial Organization, Elsevier, vol. 33(C), pages 72-82.
    9. Craig Pirrong, 1996. "Market liquidity and depth on computerized and open outcry trading systems: A comparison of DTB and LIFFE bund contracts," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 16(5), pages 519-543, August.
    10. Dutta, Shantanu & Essaddam, Naceur & Kumar, Vinod & Saadi, Samir, 2017. "How does electronic trading affect efficiency of stock market and conditional volatility? Evidence from Toronto Stock Exchange," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 867-877.
    11. Antonio Scalia & Valerio Vacca, 2001. "Does market transparency matter? A case study," BIS Papers chapters, in: Bank for International Settlements (ed.), Market liquidity: proceedings of a workshop held at the BIS, volume 2, pages 113-144, Bank for International Settlements.
    12. Thierry Foucault & Ohad Kadan & Eugene Kandel, 2005. "Limit Order Book as a Market for Liquidity," The Review of Financial Studies, Society for Financial Studies, vol. 18(4), pages 1171-1217.
    13. Kappi, Jari & Siivonen, Risto, 2000. "Market liquidity and depth on two different electronic trading systems: A comparison of Bund futures trading on the APT and DTB," Journal of Financial Markets, Elsevier, vol. 3(4), pages 389-402, November.
    14. Christian Gouriéroux & Gaëlle Le Fol, 1998. "Effet des modes de négociation sur les échanges," Revue Économique, Programme National Persée, vol. 49(3), pages 795-808.
    15. Anatoliy Swishchuk & Nelson Vadori, 2016. "A Semi-Markovian Modeling of Limit Order Markets," Papers 1601.01710, arXiv.org.
    16. Biais, Bruno & Hillion, Pierre & Spatt, Chester, 1995. "An Empirical Analysis of the Limit Order Book and the Order Flow in the Paris Bourse," Journal of Finance, American Finance Association, vol. 50(5), pages 1655-1689, December.
    17. Mr. Ian Domowitz, 1992. "Automating the Price Discovery Process: Some International Comparisons and Regulatory Implications," IMF Working Papers 1992/080, International Monetary Fund.
    18. Paul Klemperer, 2007. "Bidding Markets," Journal of Competition Law and Economics, Oxford University Press, vol. 3(1), pages 1-47.
    19. Jeremy Large, 2006. "A Market-Clearing Role for Inefficiency on a Limit Order Book," Economics Series Working Papers 2006-W08, University of Oxford, Department of Economics.
    20. Axel Ockenfels & David Reiley & Abdolkarim Sadrieh, 2006. "Online Auctions," NBER Working Papers 12785, National Bureau of Economic Research, Inc.

    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:cir:cirpro:1997rp-04. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Webmaster (email available below). General contact details of provider: https://edirc.repec.org/data/ciranca.html .

    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.