Electronic and Algorithmic Trading Technology: The Complete Guide (Complete Technology Guides for Financial Services)
Original price was: £52.99.£48.87Current price is: £48.87.
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Electronic and algorithmic trading has become part of a mainstream response to buy-side traders’ need to move large blocks of shares with minimum market impact in today’s complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larger order flow is becoming a reality. The higher reliance on electronic trading has had profound implications for vendors and users of information and trading products. Broker dealers providing solutions through their products are facing changes in their business models such as: relationships with sellside customers, relationships with buyside customers, the importance of broker neutrality, the role of direct market access, and the relationship with prime brokers. Electronic and Algorithmic Trading Technology: The Complete Guide is the ultimate guide to managers, institutional investors, broker dealers, and software vendors to better understand innovative technologies that can cut transaction costs, eliminate human error, boost trading efficiency and supplement productivity. As economic and regulatory pressures are driving financial institutions to seek efficiency gains by improving the quality of software systems, firms are devoting increasing amounts of financial and human capital to maintaining their competitive edge. This book is written to aid the management and development of IT systems for financial institutions. Although the book focuses on the securities industry, its solution framework can be applied to satisfy complex automation requirements within very different sectors of financial services – from payments and cash management, to insurance and securities. Electronic and Algorithmic Trading: The Complete Guide is geared toward all levels of technology, investment management and the financial service professionals r
Publisher : Academic Press
Publication date : 20 Jun. 2007
Edition : Illustrated
Language : English
Print length : 224 pages
ISBN-10 : 0123724910
ISBN-13 : 978-0123724915
Item weight : 363 g
Dimensions : 15.24 x 1.3 x 22.86 cm
Part of series : Complete Technology Guides for Financial Services
8 reviews for Electronic and Algorithmic Trading Technology: The Complete Guide (Complete Technology Guides for Financial Services)
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Original price was: £52.99.£48.87Current price is: £48.87.
M. Rask –
highly recommended
I’ve been following developments in algorithmic trading for many years now and consider myself an insider in the area. I find this book the first and only which describes some of the industry’s key conspects such as value VWAP (Volume-Weighted Average Price) and TWAP (Time-Weighted Average Price), Implementation shortfall, direct market access (DMA), to mention only a few.Highly recommended for anyone who wants to get a first feel in this exciting new field.
R. Kuppadakath –
Very superficial treatment of the subject
I bought this book with lots of expectation. Having been working in electronic trading domain for many years, I was excited to see a complete guide of this subject in book form. But after reading it, I have to say I am bit dissapointed. The treatment is very superficial. Some of the pages are redundant with information repeated many times over and over again. When it comes to explaining the algorithimic trading technology, the author hardly do justice to the title itself. VWAP, TWAP and IS were touched upon, but hardly any mention about other algorithms prevailing in the market. On the positive side for someone completly new to the field I hope this book will give enough pointers to guide in the right direction.
Will –
Poor
This book covers an area underrepresented in other literature but unfortunately does a very poor job. The book mentions a lot of important topics in passing. The book really needed better editing as its also very poorly written and poorly structured.There is interesting material here but to grasp it you would need to have a lot of your own knowledge to fill in the blanks.On the plus side there is little math considering the topic (if you are looking for a math free overview).
MickeyMickey –
Excellent coverage on the electronic trading industry
Very unbiased and concisely written book that covers a vast selection of very relevant topics in electronic trading. Excellent summaries and use of examples. Imperative reading for anyone who works in this field.
Amazon Customer –
A good introduction to this market.
This book is an excellent introduction to many aspects of institutional algorithmic trading. There are many facts and figures which would be of interest to people who need to know about how algorithmic trading happens and the institutions that do it.The book would be more of interest to managers and those new to the business, and is not, on the whole, technical.At under 200 pages I think it might better be called a concise guide.
Melissa AW –
I have found this book to be useful; I purchased it for work and have used it to understand the process and evolution of this system.
Dale Rosenthal –
I teach a graduate course on microstructure and electronic (i.e. algorithmic) trading. I purchased this book hoping I could use it as a background text for that part of the class. Unfortunately, I found this book lacking for a few reasons.The book neglects high-performance, low-latency technology. It also neglects a proper discussion of the business ideas driving the need for algorithmic tools. This neglect means that the few interesting details age quickly. Further, the limited perspective means the book is almost wholly US-centric. The book discusses the problems technology is used to solve without proper background as to why the problems exist. Even with technology issues, the book tries to mention lots of ideas without giving each its due. Least favorite features: a laundry list of IT vendors; an inordinate focus on irrelevant ideas (e.g. TWAP); chapters on transactions costs that avoid conveying any intuition; and, musings on build versus buy.In short: This book shows what a mid-level IT worker at a large bank might have been told to do a few years ago. Algorithmic trading lies in the intersection of computer science, software engineering, OR, statistics, game theory, and finance; this book limits its utility by failing to make even the most basic of those connections.
A buyer –
This is an expanded version of a typical consultant’s report or a magazine article, full of big words but lack of content. It’s amazing that you can’t find a formula anywhere in a book on ALGORITHMIC trading. Academic Press used to publish only rigorous books, but this seems to be an exception.This book is good for a very entry-level introduction for people only want an overview of the topic. You can’t expect to use the book to build any algo. For example, the section on transaction cost analysis (TCA) has only seven pages and only mentioned a few vendors in the space, but nothing on how to conduct research on TCA!