The Microstructure Of Foreign Exchange Markets
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The Microstructure Of Foreign Exchange Markets
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Author : Jeffrey A. Frankel
language : en
Publisher: University of Chicago Press
Release Date : 2009-05-15
The Microstructure Of Foreign Exchange Markets written by Jeffrey A. Frankel and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-15 with Business & Economics categories.
The foreign exchange market is the largest, fastest-growing financial market in the world. Yet conventional macroeconomic approaches do not explain why people trade foreign exchange. At the same time, they fail to explain the short-run determinants of the exchange rate. These nine innovative essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behavior of market participants. They examine the volume of transactions, heterogeneity of traders, the time of day and location of trading, the bid-ask spread, and the high level of exchange rate volatility that has puzzled many observers. They also consider the structure of the market, including such issues as nontransparency, asymmetric information, liquidity trading, the use of automated brokers, the relationship between spot and derivative markets, and the importance of systemic risk in the market. This timely volume will be essential reading for anyone interested in the economics of international finance.
Essays On The Microstructure Of Foreign Exchange Markets
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Author : Rafael Romeu
language : en
Publisher:
Release Date : 2002
Essays On The Microstructure Of Foreign Exchange Markets written by Rafael Romeu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Foreign exchange market categories.
The Microstructure Approach To Exchange Rates
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Author : Richard K. Lyons
language : en
Publisher: MIT Press (MA)
Release Date : 2001
The Microstructure Approach To Exchange Rates written by Richard K. Lyons and has been published by MIT Press (MA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Explaining the puzzling behavior of exchange rates using models from microstructure finance and data from electronic trading.
Foreign Exchange Market Intervention
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Author : Nevi Danila
language : en
Publisher:
Release Date : 2019
Foreign Exchange Market Intervention written by Nevi Danila and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Foreign exchange categories.
Foreign Exchange Market Intervention: Market Microstructure Models and Empirical Investigations investigates the effectiveness of government intervention from the market microstructure perspective, especially focusing on its impact concerning the setting of bid-ask exchange rates (from the Plaza Agreement to the Louvre Accord). The authors test the effect of intervention on the dealers behavior in controlling his/her inventory to set the quotation of exchange rates. The authors also examine the relative importance of the inventory cost in three components of the bid-ask spread. Finally, they analyze the impact of intervention on a spread. This book develops new econometric models which have produced results for sound FOREX and financial management strategies. This book is multi-disciplinary, technical and specialized, but focused on contemporary and emerging issues in FOREX and financial markets in addressing the issues of financial markets and for theory and hypothesis development which have general implications for finance theory.
Traders Market Microstructure And Exchange Rate Dynamics
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Author : Yin-Wong Cheung
language : en
Publisher:
Release Date : 1999
Traders Market Microstructure And Exchange Rate Dynamics written by Yin-Wong Cheung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Economic surveys categories.
We report findings from a survey of United States foreign exchange traders. Our results indicate that: (i) The share of customer business, versus interbank business, has remained fairly constant; (ii) The channels by which transactions take place have changed, as electronically-brokered transactions have risen from 2% to 46% of total, mostly at the expense of transactions undertaken by traditional brokers; (iii) The single most widely- cited reason for deviating from the standard market convention on the bid-ask spread is a thin/hectic market; (iv) Half or more of market respondents believe that large players dominate in the dollar-pound and dollar-Swiss franc markets; and (v) 60% of respondents believe there is low predictability of exchange rates intraday. Even at medium and long run horizons, only a third of traders believe that there is high predictability.
Foreign Exchange Dealing
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Author : Antti Suvanto
language : en
Publisher:
Release Date : 1993
Foreign Exchange Dealing written by Antti Suvanto and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Foreign exchange categories.
Tiivistelmä.
The Market Microstructure Approach To Foreign Exchange
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Author : Michael King
language : en
Publisher:
Release Date : 2012
The Market Microstructure Approach To Foreign Exchange written by Michael King and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Microstructure Of World Trading Markets
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Author : Hans R. Stoll
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Microstructure Of World Trading Markets written by Hans R. Stoll and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
This volume addresses various aspects of the microstructure of world trading markets and provides scientific evidence on the functioning of specific foreign markets. The study of market microstructure has previously focused on the U.S. markets, but with the rapid expansion in foreign markets there is a real need to understand the nature and functioning of foreign trading markets.
Market Microstructure In Emerging And Developed Markets
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Author : H. Kent Baker
language : en
Publisher: John Wiley & Sons
Release Date : 2013-07-31
Market Microstructure In Emerging And Developed Markets written by H. Kent Baker and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-31 with Business & Economics categories.
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.
Studies In Foreign Exchange Economics
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Author : Martin D D Evans
language : en
Publisher: World Scientific Publishing Company
Release Date : 2017-06-28
Studies In Foreign Exchange Economics written by Martin D D Evans and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-28 with Business & Economics categories.
This book collects my scholarly research on the behavior of foreign exchange rates conducted over the past twenty-five years. The collection includes papers that study the behavior of exchange rates from the traditional macroeconomic and newer microstructure perspectives. The former perspective considers the linkages between the macro economy and currency prices in an effort to understand the behavior of exchange rates over quarters, years and decades. By contrast, the microstructure perspective considers how the details of currency trading affect how macroeconomic information becomes embedded in currency prices, a process which drives exchange-rates over intraday horizons. The book also contains papers with a hybrid perspective that consider the details of currency trading and macroeconomic linkages in an effort to understand exchange-rate dynamics across all horizons.