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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS Die zukunft des computerhandels an den finanzmärkten: arbeitspapier. (PDF) (link opens in a new window)
German language version of the main report from the Foresight 'The future of computer trading in financial markets' project (11/1276). Examines the challenges and opportunities presented by technological advances in financial markets worldwide.
Internet only
| 11/1362 | 03-11-2011 |
A4
73 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR1: what has happened to UK equity market quality in the last decade? An analysis of the daily data. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Investigates the properties of the UK equity market over the last decade with a view to establishing trends or otherwise in market quality. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1220 | 08-09-2011 |
A4
31 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR10: high frequency trading, information, and profits. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Outlines the different types of short term information used by high frequency traders, and discusses the various sources of these traders' profits. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1241 | 08-09-2011 |
A4
16 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR11: impersonal efficiency and the dangers of a fully automated securities exchange. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Identifies impersonal efficiency as a driver of market automation during the past four decades, and speculates about the future problems it might pose. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1230 | 08-09-2011 |
A4
32 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR12: high-frequency trading and price efficiency. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Focuses on how greater investment in computing and communications technologies impact high-frequency trading (HFT) and price efficiency. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1231 | 08-09-2011 |
A4
20 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR13: studies of interactions between human traders and algorithmic trading systems. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Reviews published literature that describe scientific studies of interactions between human and robot traders under experimental conditions. Argues that open-source design for studying human-robot interactions in electronic marketplaces should be used as a standard for related future work. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1232 | 08-09-2011 |
A4
60 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR14: prospects for large-scale financial systems simulation. (PDF) (link opens in a new window)
A phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Considers the application of simulation methodologies to financial systems, assessing the prospects for continued progress in this line of research. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1233 | 08-09-2011 |
A4
22 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR15: impact of special relativity on securities regulation. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Explains that markets now respond in computer-scale time, and examines what this speed means for our financial markets. Describes why speed matters to some participants in financial markets, and discusses the regulatory implications. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1242 | 08-09-2011 |
A4
15 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR16: electronic trading and market structure. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Examines automated trading and the changes this has effected in the structure of the securities trading industry. Considers the potential role that large-scale simulation models of financial systems might play in preventing a recurrence of the financial catastrophe at the scale recently witnessed. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1234 | 08-09-2011 |
A4
19 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR17: the evolution of algorithmic classes. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Explores the key factors that drive the evolution of algorithmic classes. Analyses the impact of regulation changes, new trading venues, technological innovations, the economic environment, market micro-structure changes, availability and quality of data, and progress in academic research. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1235 | 16-11-2011 |
A4
22 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR2: feedback effects and changes in the diversity of trading strategies. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Outlines some of the risk drivers from feedback loops in computer-based environments. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1221 | 08-09-2011 |
A4
24 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR3: technology trends in the financial markets: a 2020 vision. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Establishes the historical context for technology adoption in the financial markets, reviews current technology trends, and then extrapolates them out by five to ten years. Aims to identify what the financial-markets technology landscape might reasonably look like in 2020 or 2022. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1222 | 08-09-2011 |
A4
47 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR4: the global financial markets: an ultra-large-scale systems perspective. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Argues that, in recent years, the global financial markets have become a complex adaptive ultra-large-scale socio-technical system-of-systems. Explains the consequences for how the financial markets should be engineered and managed in future. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1223 | 08-09-2011 |
A4
47 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR5: computer based trading, liquidity and trading costs (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Provides evidence on the effect of developing computer-based trading (CBT) on broad measures of activity and liquidity in the UK equity market. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1240 | 08-09-2011 |
A4
39 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR6: an ecological perspective on the future of computer trading. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Ecological microstructure perspective of financial markets. Considers the impact of computer trading on the fairness, competitiveness and stability of markets now and in the future. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1225 | 08-09-2011 |
A4
40 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR7: crashes and high frequency trading. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Presents a partial review of the potential for bubbles and crashes associated with high frequency trading (HFT). See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1226 | 08-09-2011 |
A4
26 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR8: automated analysis of news to compute market sentiment: its impact on liquidity and trading. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Focuses on automated trading and financial markets. Also covers automated analysis of news to compute market sentiment, and how market sentiment impacts liquidity and trading. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1227 | 08-09-2011 |
A4
29 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS DR9: leverage, forced asset sales, and market stability: lessons from past market crises and the flash crash. (PDF) (link opens in a new window)
Phase one driver review for the Foresight 'The future of computer trading in financial markets' project. Considers sources of forced selling and the role of leverage, and historical examples where forced selling has played a major role in market crashes. Also looks at market liquidity, information, and crashes; high frequency traders (HFTs) and market liquidity; and the formal model on the impact of HFTs on market liquidity and volatility. See the browse subject ‘Computer trading in financial markets’ for the main paper (URN 11/1276) and related driver reviews.
Internet only
| 11/1228 | 08-09-2011 |
A4
30 Pages
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End-user perspectives on computerised trading. (PDF) (link opens in a new window)
Summarises the findings from the survey and interviews on the views of buy-side participants on the usage, impact, and policy options for computer generated trading. Focuses on algorithmic and high frequency trading. Aims to capture the perspectives of end-users of capital markets, focusing on traditional investors defined as asset managers, pension funds and insurers. See the browse subject ‘Computer trading in financial markets’ for related papers.
Internet only
| 12/679 | 22-03-2012 |
A4
89 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS Le futur de la transaction informatisée sur les marchés financiers: document de travail. (PDF) (link opens in a new window)
French language version of the main report from the Foresight 'The future of computer trading in financial markets' project (11/1276). Examines the challenges and opportunities presented by technological advances in financial markets worldwide.
Internet only
| 11/1361 | 03-11-2011 |
A4
68 Pages
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THE FUTURE OF COMPUTER TRADING IN FINANCIAL MARKETS The future of computer trading in financial markets: working paper. (PDF) (link opens in a new window)
Main report from the Foresight 'The future of computer trading in financial markets' project. Examines the challenges and opportunities presented by technological advances in financial markets worldwide. See the browse subject ‘Computer trading in financial markets’ for the related driver reviews.
Internet only
| 11/1276 | 08-09-2011 |
A4
56 Pages
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