Screen Based Trading and Open Order Book : From One-Sided Order Execution to Two-Sided Order Matching
Language: English
Published by Springer, 2025
- Hardcover
- New
Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH
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Add to basketItem description from seller
Druck auf Anfrage Neuware - Printed after ordering - This book explores screen-based trading with an open order book, where traders' decisions influence others in real time via that open order book. Modelling traders actions using discrete choice, a method proven in other fields but new to finance, and the integration of discrete choice into a Markov Process, offers an innovative approach to understanding decision making under uncertainty. We call this combination 'Doubly Stochastic Markov Process' (DSMP for short).The book is aimed at those interested in real market performance with traders modelling based on behavioural expertise.Monitoring orders instead of prices creates a competitive advantage because the adjustment of prices requires prior adjustment of orders. Only the matching of orders generates transactions and prices. Efficient order management turns risky volatility into profits.The presentation of DSMP is preceded by an introductory overview of trading venues and concludes with an outlook on the increasing suitability of stochastic processes to implement the interactions of agents and to facilitate modelling the self-organisation of markets.…
Seller Inventory # 9783031990519
- Title
- Screen Based Trading and Open Order Book : From One-Sided Order Execution to Two-Sided Order Matching
- Author
- Sascha Bakry
- Publisher
- Springer
- Publication year
- 2025
- Condition
- Neu
- Binding
- Buch
- Language
- English
- ISBN 10
- 303199051X
- ISBN 13
- 9783031990519
- Item weight
- 469 grams
- Dimensions
- 241x160x17 mm
This book explores screen-based trading with an open order book, where traders' decisions influence others in real time via that open order book. Modelling traders’ actions using discrete choice, a method proven in other fields but new to finance, and the integration of discrete choice into a Markov Process, offers an innovative approach to understanding decision making under uncertainty. We call this combination "Doubly Stochastic Markov Process" (DSMP for short).
The book is aimed at those interested in real market performance with traders’ modelling based on behavioural expertise.
Monitoring orders instead of prices creates a competitive advantage because the adjustment of prices requires prior adjustment of orders. Only the matching of orders generates transactions and prices. Efficient order management turns risky volatility into profits.
The presentation of DSMP is preceded by an introductory overview of trading venues and concludes with an outlook on the increasing suitability of stochastic processes to implement the interactions of agents and to facilitate modelling the self-organisation of markets.
"Synopsis" may belong to another edition of this title.
About the Author
Otto Loistl held the Chair of Banking and Finance at the University of Paderborn (1975-1991) and later chaired the Institute for Investment Banking and Catallactics at Vienna University of Economics and Business (1991-2008). His research in real capital markets includes developing a market microstructure model, advising the Frankfurt Stock Exchange, and contributing to Xetra’s market surveillance.
Georg Behm earned his doctorate at Vienna University of Economics and Business with a thesis on valuing innovative companies under Prof. Loistl. He is a court-certified expert in corporate valuation and advises on corporate finance and M&A, with extensive experience in valuation methodologies.
Sascha Bakry graduated from Vienna University of Economics and Business, focusing on discounted cash flow valuation with constant risk premia and risky debt under Prof. Loistl’s supervision. He is currently a Partner at Deloitte Austria, specializing in Banking, Treasury, and Capital Markets.
"About the title" may belong to another edition of this title.
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