Market Making and the Changing Structure of the Securities
By Yakov Amihud, Thomas S.Y. Ho, and Robert A. Schwartz
2002/11 - Beard Books
1587981637 - Paperback - Reprint - 332 pp.
This detailed and comprehensive examination of a vital industry is important reading for traders, financial analysts, and those interested in the development of financial institutions.
In this book, the product of a conference held at New York University's Salomon Center for the Study of Financial Institutions, the industry's leading practitioners and theoreticians addressed the key issues raised by the Securities Acts Amendments of 1975: market design and operations. Experts considered the importance of efficient price discovery as the objective of the trading system and examined the interrelationship between the number of market makers and the liquidity of the market.
Turning their attention to the actual market systems and regulatory structure, they discussed the competitive environment of the markets, provided an in-depth view of arbitrage and upstairs trading, and focused on multiple regulators of the securities industry.
This is a reprint of a previously published book. it deals with changes on the U.S. financial market by the Securities Acts Amendment of 1975.
Yakov Amihud is Ira Leon Rennert Professor of Entrepreneurial Finance of the Stern School of Business, New York University where he has been teaching since 1990, and concurrent holds a research professorship in Finance. He obtained his Bachelor of Social Science degree from Hebrew University (1969); Master of Science in Business Administration from New York University Graduate School of Business Administration (1973) and his Doctor of Philosophy in Business Administration from the same institution in 1975.
Other Beard Books by Yakov Amihud
Thomas S. Y. Ho is the President of Thomas Ho Company, consultants to major financial institutions on quantitative financial analysis. He founded Global Advance Technology in 1987 which provided 200 financial institutional clients worldwide portfolio analytics. He was a professor at Stern School of Business, NYU from 1978-1989. He has published extensively in academic journals and hold a Ph.D. in Mathematics from the University of Pennsylvania.
Robert A. Schwartz is Marvin M. Speiser Professor of Finance and University Distinguished Professor at the Zicklin School of Business, Baruch College, CUNY. He received his MBA and Ph.D. from Columbia University. Among his numerous publications are The Microstructure of Security Markets: Theory and Implications and Impending Changes for Securities Markets: What Role for Exchanges?