High frequency trading: an overview
AbstractThis paper examines high-frequency trading systems, which were first developed in the US equity markets but have spread steadily to most asset classes on the main world financial markets. It analyzes the current regulatory and technological structures of the markets and describes the inefficiencies and informational advantages that high-frequency trading systems seek to exploit and the strategies they use. The paper concludes with an assessment of the positive and negative impacts of the presence of this new type of player on the overall quality of the financial markets.
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Bibliographic InfoPaper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 198.
Date of creation: Sep 2013
Date of revision:
high frequency trading;
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
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