Market Microstructure in Emerging and Developed Markets: Price Discovery, Information Flows, and Transaction Costs

Market Microstructure in Emerging and Developed Markets: Price Discovery, Information Flows, and Transaction Costs

Editor(s): H. Kent Baker, Halil Kiymaz

Published Online: 23 AUG 2013 08:39PM EST

Print ISBN: 9781118278444

Online ISBN: 9781118681145

DOI: 10.1002/9781118681145

About this Book

A comprehensive guide to the dynamic area of finance known as market microstructure

Interest in market microstructure has grown dramatically in recent years due largely in part to the rapid transformation of the financial market environment by technology, regulation, and globalization. Looking at market transactions at the most granular level-and taking into account market structure, price discovery, information flows, transaction costs, and the trading process-market microstructure also forms the basis of high-frequency trading strategies that can help professional investors generate profits and/or execute optimal transactions.

Part of the Robert W. Kolb Series in Finance, Market Microstructure skillfully puts this discipline in perspective and examines how the working processes of markets impact transaction costs, prices, quotes, volume, and trading behavior. Along the way, it offers valuable insights on how specific features of the trading process like the existence of intermediaries or the environment in which trading takes place affect the price formation process.

  • Explore issues including market structure and design, transaction costs, information flows, and disclosure
  • Addresses market microstructure in emerging markets
  • Covers the legal and regulatory issues impacting this area of finance
  • Contains contributions from both experienced financial professionals and respected academics in this field

If you're looking to gain a firm understanding of market microstructure, this book is the best place to start.

Table of contents

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  1. Part I: Introduction to Market Microstructure

  2. Part II: Market Architecture and Design

    1. Chapter 12

      Dark Trading (pages 213–230)

      Hans Degryse, Geoffrey Tombeur, Mark Van Achter and Gunther Wuyts

  3. Part III: Price Formation and Price Discovery

  4. Part IV: Transaction Costs, Timing Costs, and Information Disclosure

  5. Part V: Microstructure Issues in Emerging Markets

    1. You have free access to this content
    1. You have free access to this content

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