Bücher der Reihe Zicklin School of Business Financial Markets Series

In the past quarter of a century, the pace of structural change in the equity markets has accelerated dramatically and, as it has, regulation has come to play an increasingly central role in the development of market structure.

In 1975, the U.S. Securities Acts Amendments were enacted by Congress, which amongst other measures, officially mandated development of a National Market System (NMS). Since that time, the competitive map has been redrawn, technological changes have been huge and pervasive in scope, and the landscape is ever-changing. This book looks at the evolution of NMS and the factors that have influenced it since its development. Titled after the Baruch College Financial Markets Conference, 40 Years of Experience with the National Market System (NMS): Who Are the Winners and What Have We Learned, the book examines the following questions: What is liquidity and how is it best measured and provided? Has NMS-Induced competition delivered? What is technology's challenge to regulators? Are fair and level playing fields a good regulatory goal? What is the buyside's view?The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. The transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

Titled after the Baruch College Financial Markets Conference, Equity Market Round-Up: Proposals for Strengthening the Markets, this book explores how regulation has a clear impact on market structure and, therefore, how market structure impacts efficient trading and capital formation.

Titled after the Baruch College Financial Markets Conference, Equity Market Round-Up: Proposals for Strengthening the Markets, this book explores how regulation has a clear impact on market structure and, therefore, how market structure impacts efficient trading and capital formation.

This book explores the integrity of equity markets, addressing such issues as the exchange vs. customer perspective on price discovery and the ways market participants deal with key regulatory concerns. Do market practitioners pass the integrity test? How does "market integrity" play out globally? What is the overall veracity of the marketplace? These are some of the key questions considered in this volume from the viewpoints of traders, economists, financial market strategists and exchange representative. Titled after the Baruch College Financial Markets Conference, Market Integrity: Do Our Equity Markets Pass the Test?, this book is of interest to market practitioners, trading professionals, academics and students in the field of financial markets.The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well-delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

Three dominant forces worldwide are driving change today in our financial markets: competition, technology and regulation.

The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars.

Featuring insights from prominent academics, financial experts, policymakers and journalists, this volume examines the fundamentals behind volatility in today's equity markets. Readers will find a deeper knowledge of the dynamic process of price formation, market structure and regulatory environment.

This book is based on the proceedings of The Electronic Call Auction: New Answers to Old Questions, a conference hosted by the Zicklin School of Business on May 16, 2000. As call auctions play a more central role in the US markets, how will they affect market quality in terms of transparency, order flow consolidation, and price discovery?

Competition between market centers is a driving force for innovation, dynamic growth, and reasonable pricing structures. This book addresses such timely topics as the impact of technology on financial markets and includes contributions from prominent academics, policymakers and professionals in the field.

Featuring contributions from a distinguished panel of practitioners, academicians, and regulators, this volume offers a penetrating and timely account of the most current issues in market quality, covering such topics as high-frequency trading; dark pools; lit pools; fragmentation; disruptive and advanced technologies.

This book is based on the proceedings of The Electronic Call Auction: New Answers to Old Questions, a conference hosted by the Zicklin School of Business on May 16, 2000. As call auctions play a more central role in the US markets, how will they affect market quality in terms of transparency, order flow consolidation, and price discovery?

Competition between market centers is a driving force for innovation, dynamic growth, and reasonable pricing structures. This book addresses such timely topics as the impact of technology on financial markets and includes contributions from prominent academics, policymakers and professionals in the field.

The NASDAQ Stock Market has been reengineered in recent years. This conference brought together leading buy-side and sell-side participants and NASDAQ executives to put these changes into sharper focus. The resulting book assesses both the current market structure and the direction in which the new NASDAQ marketplace is heading.

Specialists and floor brokers, in direct contact on the trading floor, are at the heart of operations at the national U.S. equity exchanges. Floor Based Trading will provide perspective on the future direction that exchange market structure is likely to follow in the coming years.

\n my opening remarks at the conference, I suggested that effective handling of institutional order flow is one of the most important and difficult At the time of the conference, Richard Ketchum was President and Deputy Chairman at The Nasdaq Stock Market, Inc.

This book is based on A Trading Desk's View of Market Quality, a conference hosted by the Zicklin School of Business on April 30, 2002.

This book is based on A Trading Desk's View of Market Quality, a conference hosted by the Zicklin School of Business on April 30, 2002.

In the past quarter of a century, the pace of structural change in the equity markets has accelerated dramatically and, as it has, regulation has come to play an increasingly central role in the development of market structure.

Specialists and floor brokers, in direct contact on the trading floor, are at the heart of operations at the national U.S. equity exchanges. Floor Based Trading will provide perspective on the future direction that exchange market structure is likely to follow in the coming years.

Three dominant forces worldwide are driving change today in our financial markets: competition, technology and regulation.

The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars.

This book is an augmented account of Technology and Regulation: How Are They Driving Our Markets?, a conference hosted by the Zicklin School of Business at Baruch College on May 1, 2007.