Liquidity: How to Find It, Regulate It, Get It (流動性：如何尋找、調節與獲得它)

Schwartz, Robert A., Byrne, John Aidan, Stempel, Eileen

Liquidity: How to Find It, Regulate It, Get It
  • 出版商: Springer
  • 出版日期: 2024-10-08
  • 售價: $5,720
  • 貴賓價: 9.5 折 $5,434
  • 語言: 英文
  • 頁數: 100
  • 裝訂: Quality Paper - also called trade paper
  • ISBN: 3031369165
  • ISBN-13: 9783031369162

    • 海外代購書籍(需單獨結帳)

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商品描述

In market structure, we tend to be equity focused, but one of the challenges is liquidity creation. This book examines liquidity creation and regulation. Based on the Baruch College Financial Markets Conference, Liquidity: How to Find it, Regulate it, Get it, this book examines the following questions: Where does liquidity come from? How should liquidity be supplied? What is needed when creating a new platform to provide an environment of liquidity? How do you prepare for liquidity provision concerning market investors, regulatory infrastructure, and technical infrastructure? How do you create liquidity in different asset classes? What is the role of the alternative trading system (ATS) structure within the exchange regulatory framework? What global trends are affecting liquidity creation? Also covered are the popularity of indexing, exchange-traded funds (ETFs) and Robo-advisers (Robos); how technology is transforming liquidity provision, mid and small-cap liquidity provision and newapproaches to liquidity creation. An interview with Former Commissioner of the U.S. Securities and Exchange Commission, Michael S. Piwowar is also featured.
The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panellists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

商品描述(中文翻譯)

在市場結構中，我們傾向於專注於股權，但其中一個挑戰是流動性創造。本書探討了流動性創造和監管。根據巴魯克學院金融市場會議的主題「流動性：如何尋找、監管和獲得它」，本書探討了以下問題：流動性來自何處？應該如何提供流動性？在創建一個提供流動性環境的新平台時需要什麼？在考慮市場投資者、監管基礎設施和技術基礎設施時，如何為流動性提供做準備？如何在不同的資產類別中創造流動性？替代交易系統（ATS）結構在交易所監管框架中的角色是什麼？哪些全球趨勢正在影響流動性創造？此外，還涵蓋了指數化、交易所交易基金（ETFs）和機器人顧問（Robos）的流行；技術如何改變流動性提供、中小型股流動性提供以及流動性創造的新方法。書中還特別訪問了美國證券交易委員會前專員邁克爾·S·皮沃瓦（Michael S. Piwowar）。

Zicklin商學院金融市場系列呈現了從Zicklin商學院為行業專業人士、監管機構和學者舉辦的一系列會議中產生的見解。這些會議的逐字稿不僅僅是歷史文件，還經過編輯以增強清晰度、視角和背景；來自後續訪談的材料和評論也被整合，以提供完整的主題呈現。每本書專注於一個明確的主題，但都提供了對美國股市質量和效率以及改變它們的動態力量的更廣泛見解。

作者簡介

Robert A. Schwartz is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. Before joining the Baruch faculty in 1997, he was Professor of Finance and Economics, and Yamaichi Faculty Fellow at New York University's Leonard N. Stern School of Business, where he had been a member of the faculty since 1965. In 1966, Professor Schwartz received his Ph.D. in Economics from Columbia University. His research is in the area of financial economics, with a primary focus on the structure of securities markets. He has published over seventy refereed journal articles, twelve edited books, and nine authored books, including Micro Markets: A Market Structure Approach to Microeconomic Analysis, Wiley & Sons, 2010. Dr. Schwartz has served as a consultant to various market centers including the New York Stock Exchange, the American Stock Exchange, Nasdaq, the London Stock Exchange, Instinet, the Arizona Stock Exchange, Deutsche Börse, Borsa Istanbul and the Bolsa Mexicana. From April 1983 to April 1988, he was an associate editor of The Journal of Finance, and he is currently an associate editor of the Review of Quantitative Finance and Accounting and the Review of Pacific Basin Financial Markets and Policies, and is a member of the advisory boards of International Finance. In December 1995, Professor Schwartz was named the first chairman of Nasdaq's Economic Advisory Board, and he served on the EAB until Spring 1999.

He is developer, with Bruce Weber of the trading and market structure simulation, TraderEx. In 2009, Schwartz was named the first recipient of the World Federation of Exchanges' annual Award for Excellence. In 2018, Schwartz was named the co-director of Baruch's newly established Robert A. Schwartz Center for Trading and Financial Markets Research.

作者簡介(中文翻譯)

羅伯特·A·施瓦茨（Robert A. Schwartz）是巴魯克學院（Baruch College）齊克林商學院（Zicklin School of Business）的馬文·M·斯派瑟（Marvin M. Speiser）金融學教授及大學傑出教授。在1997年加入巴魯克的教職之前，他曾擔任紐約大學（New York University）萊昂納德·N·斯特恩商學院（Leonard N. Stern School of Business）的金融與經濟學教授及山一證券（Yamaichi）教職研究員，自1965年以來一直是該校的教職成員。施瓦茨教授於1966年獲得哥倫比亞大學（Columbia University）經濟學博士學位。他的研究領域為金融經濟學，主要專注於證券市場的結構。他已發表超過七十篇經過審核的期刊文章、十二本編輯書籍及九本著作，包括《微市場：微觀經濟分析的市場結構方法》（Micro Markets: A Market Structure Approach to Microeconomic Analysis），由Wiley & Sons於2010年出版。施瓦茨博士曾擔任多個市場中心的顧問，包括紐約證券交易所（New York Stock Exchange）、美國證券交易所（American Stock Exchange）、納斯達克（Nasdaq）、倫敦證券交易所（London Stock Exchange）、Instinet、亞利桑那證券交易所（Arizona Stock Exchange）、德意志交易所（Deutsche Börse）、伊斯坦堡證券交易所（Borsa Istanbul）及墨西哥證券交易所（Bolsa Mexicana）。從1983年4月到1988年4月，他擔任《金融學期刊》（The Journal of Finance）的副編輯，目前是《定量金融與會計評論》（Review of Quantitative Finance and Accounting）及《太平洋盆地金融市場與政策評論》（Review of Pacific Basin Financial Markets and Policies）的副編輯，並且是國際金融顧問委員會的成員。1995年12月，施瓦茨教授被任命為納斯達克經濟顧問委員會（Economic Advisory Board）的首任主席，並在1999年春季之前擔任該職位。

他與布魯斯·韋伯（Bruce Weber）共同開發了交易與市場結構模擬工具TraderEx。2009年，施瓦茨被評選為世界交易所聯合會（World Federation of Exchanges）年度卓越獎的首位獲獎者。2018年，施瓦茨被任命為巴魯克新成立的羅伯特·A·施瓦茨交易與金融市場研究中心的共同主任。

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