An Introduction to Trading in the Financial Markets. by R. Tee Williams

By R. Tee Williams

Networks, structures, and information sign up for the monetary markets right into a unmarried interrelated atmosphere that approaches thousands of transactions in genuine time.  This quantity, the 3rd of 4, investigates the interconnected nature of monetary markets by reading networks, platforms, and knowledge in turn.  Describing what applied sciences do rather than how they paintings, the book shows how they drive every one step of the buying and selling process.  We study why the rate and scope of monetary automation are turning out to be, and we detect the increasing significance of knowledge within the regulatory process.  Contributing to those motives are visible cues that advisor readers during the material.  If wisdom comes from info, then this quantity finds a lot in regards to the center of the finance industry.

  • Explains how applied sciences and knowledge make the monetary markets essentially the most computerized industries
  • Describes how every one step within the buying and selling method employs know-how and generates information
  • Presents significant recommendations with graphs and simply understood definitions

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Extra resources for An Introduction to Trading in the Financial Markets. Technology: Systems, Data, and Networks

Sample text

Payments must be processed and balance the acquisition or sale of instruments. Technology facilitates this by processing both trade reports and ­payments to account for changes in holdings. Other Units Many other important types of messages are generated and flow throughout the trading markets. For example, exchanges send critical administrative messages that may affect trading and alter behaviors. Similarly, clearing corporations send out ­margin calls when changes in the price of instruments awaiting settlement cause one or another participant in a trade to have an incentive not to settle.

Therefore, the middle office is engaged in activities that are ­provided to ­customers through front-office personnel. Middle-office personnel may work on the same systems used by the front office or may employ specialty technologies such as systems supporting compliance. 2 The middle office supports customers by producing reports and helping to map customer holdings to aggregate firm positions. 3). They include managing the settlement process for trades, handling ­interactions with supporting entities, and sometimes handling interactions with regulators.

3 The backoffice links buy- and sell-side firms to the markets and other supporting entities that facilitate the trading and settlement processes. Backoffice systems involve matching transactions from the markets with orders from portfolio managers and customers, handling the receipt and delivery of cash and instrument positions, and managing interactions with custodians and others. liii liv Background Customer Activities We have noted several ways in which customers are supported by functions within entities.

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