By Jay Vaananen
A undeniable English advisor to excessive frequency buying and selling and off-exchange buying and selling practices
In Dark swimming pools & excessive Frequency buying and selling For Dummies, senior inner most banker Jukka Vaananen has created an critical and pleasant consultant to what fairly is going on inside of darkish swimming pools, what rewards you could acquire as an investor and the way wider inventory markets and pricing might be plagued by darkish swimming pools. Written with the vintage For Dummies variety that has develop into an indicator of the emblem, Vaananen makes this complicated fabric effortless to appreciate with an insider's investigate the topic.
The publication takes a close examine the professionals and the cons of buying and selling in darkish swimming pools, and the way this kind of buying and selling differs from extra conventional routes. It additionally examines how darkish swimming pools are at the moment regulated, and the way the regulatory panorama might be changing.
- Learn what different types of darkish swimming pools exist, and the way a standard transaction works
- Discover the foundations and laws for darkish swimming pools, and a few of the downsides to trading
- Explore how darkish swimming pools can profit traders and banks, and who can exchange in them
- Recognize the fine details of automatic and excessive frequency trading
Because darkish swimming pools let businesses to exchange shares anonymously and clear of the general public alternate, they aren't topic to the peaks and troughs of the inventory industry, and feature only in the near past started to take off in an enormous manner. Written with traders and finance scholars in brain, Dark swimming pools & excessive Frequency buying and selling For Dummies is the last word reference consultant for a person seeking to comprehend darkish swimming pools and darkish liquidity, together with different order varieties and key HFT strategies.
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Extra resources for Dark Pools and High Frequency Trading For Dummies
For example, an order of 10,000 shares can be broken up into smaller parts that show only 200 on the order book. Every time the 200 shares are matched, another 200 will be posted to the order book until the full 10,000 is filled. Although this hidden liquidity doesn’t show on the trading book, it’s part of market liquidity. Liquidity that is unseen may give the appearance of low liquidity; a stock maybe shows just 200 shares offered, but in reality behind it is an order for 20,000 that simply shows 200 shares at a time.
Now remember that in a fair and properly working market you, as the buyer, would receive the lowest offer. 10 lower than your limit, which is a good thing for you because you get the shares at a lower price. So if a better price is available on offer in the market, even though you were willing to pay more, the system of best bid and best offer would guarantee you the better price. In a dark pool you wouldn’t see any of this. If the trade was done through a dark pool and there was a willing seller in the pool, you should have your trade executed at the lowest offer equal to that in the displayed market (remember dark pools take their pricing reference from the displayed market).
Cultivate your knowledge of the regulations that act as the foundation to dark pools and what changes are in the works. ✓ Discover the different providers that provide the dark pool venues and the subtle differences that separate them from each other. ✓ Discover how you can stop yourself becoming the prey of predatory dark pool operators and know who those operators might be. Chapter 4 Introducing Dark Pool Providers In This Chapter ▶ Perusing the different types of dark pool providers ▶ Knowing what distinguishes them from each other D ark pools are a major part of the global financial markets.
Dark Pools and High Frequency Trading For Dummies by Jay Vaananen