An Introduction to Trading in the Financial Markets - 1st Edition - ISBN: 9780123748409, 9780080951195

An Introduction to Trading in the Financial Markets

1st Edition

Technology: Systems, Data, and Networks

Authors: R. Tee Williams
eBook ISBN: 9780080951195
Paperback ISBN: 9780123748409
Imprint: Academic Press
Published Date: 11th August 2011
Page Count: 496
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Description

Networks, systems, and data join the financial markets into a single interrelated environment that processes millions of transactions in real time.  This volume, the third of four, investigates the interconnected nature of financial markets by examining networks, systems, and data in turn.  Describing what technologies do instead of how they work, the book shows how they drive each step of the trading process.  We learn why the speed and scope of financial automation are growing, and we observe the increasing importance of data in the regulatory process.  Contributing to these explanations are visual cues that guide readers through the material.  If knowledge comes from information, then this volume reveals much about the core of the finance industry.

Key Features

  • Explains how technologies and data make the financial markets one of the most automated industries
  • Describes how each step in the trading process employs technology and generates information
  • Presents major concepts with graphs and easily understood definitions

Readership

New entrants into financial technology and financial markets positions, junior level financial technology and financial markets professionals looking to advance their careers.

Table of Contents

Preface for the Set

Features of the books

Acknowledgments

Preface

Overview

Taxonomy of markets

Entities

Instruments

Functions

Investing and trading

Processes

Global markets

Background

History

Concepts

Visual Glossary

Preface

Overview

Background

Part 1: systems

Part 2: data

Part 3: networks

Part 4: trading process

Part 1: Systems

Introduction

1. Purposes

Display and presentation

Analysis and decision making

Measurement and comparison

Workflow management

Database management

Inventory control

Accounting

Reporting

2. Functions

Buy side

Sell side

3. Tasks

Entering

Updating

Posting

Reconciling

Presenting

4. Events

Accounts

Instruments

5. Organization

Related information in other books

Part 2: Data

Introduction

1. Types

Process data

Reference data

Market data

Identifiers and segments

2. Characteristics

Freshness

State

3. Sources

Trading venues

Issuing companies

Instrument registration

The sell side

The buy side

Vendors

Regulators and governments

4. Purpose

Trading

Accounting and reporting

Risk management and compliance

Regulation and oversight

5. Functions

Buy side

The sell side

6. Business

Tasks

Groups

Ownership

Pricing

Distribution

7. Management

Acquisition

Normalization

Quality control

Database

Entitlements

Inventory control

Cost control

Reporting

Governance

8. Organization

Tasks

Technology

Business and accounting

Sales and marketing

Operations and maintenance

9. Issues

Speed

Units of count

Multiple entitlements/single user

Standards

Inconsistencies and conflicts

Metadata

Volume

Official prices

Ownership and contract problems

Related information in other books

Part 3: Networks

Introduction

1. Concepts

Latency

Queuing

Architecture

Distribution techniques

Design

OSI layers

Standards

2. Span

Internal

Interentity

3. Distribution Technology

Telecommunications

Cellular

Internet

Satellite

4. Types

Telephone and verbal messaging

Market-data networks

Advertising

Trading networks

Post-trade networks

Payments networks

Email and text messaging

Video networks

5. Organization

6. Issues

Message traffic

Capacity planning

Related information in other books

Part 4: Trading Process

Introduction

1. Step 1: Pre-trade Decisions

Processes

Outputs

Summary

Step 2: Buy-Side Trading

Processes

Outputs

Summary

3. Step 3: Order Routing

Processes

Outputs

Summary

4. Step 4: Execution

Processes

Outputs

Summary

5. Step 5: Trade Confirmation

Processes

Outputs

Summary

6. Step 6: Trade Allocation

Processes

Outputs

Summary

7. Step 7: Clearing

Processes

Outputs

Summary

8. Step 8: Settlement

Processes

Outputs

Summary

Related information in other books

Conclusion

Book 1: an introduction to trading in the financial markets: market basics

Book 2: an introduction to trading in the financial markets: trading, markets, instruments, and processes

Book 4: an introduction to trading in the financial markets: global markets, regulation, risk, and compliance

Glossary

References

Index

Details

No. of pages:
496
Language:
English
Copyright:
© Academic Press 2011
Published:
Imprint:
Academic Press
eBook ISBN:
9780080951195
Paperback ISBN:
9780123748409

About the Author

R. Tee Williams

R. "Tee" Williams is an expert on market data operations and strategy.

Affiliations and Expertise

R. "Tee" Williams is a well-known consultant and Principal of Tee Williams Associates. Tee has built industry recognition as an expert on market data operations and strategy.