Electronic Trading Systems In Europe And Development Potentialities For Russia.pdf

(1253 KB) Pobierz

PowerPoint-Präsentation

Elektronische Handelssysteme in Europa und

Entwicklungsmöglichkeiten für Russland

Electronic Trading Systems in Europe and development

potentialities for Russia

Workshop:

Bank und Finanzbeziehungen in Europa und die

Integration Russlands

Prof. Dr. Christoph Lattemann

Chair for Corporate Governance and E-Commerce

Folie 1

68898888.051.png

68898888.062.png

68898888.073.png

68898888.081.png

68898888.001.png

68898888.002.png

Agenda

1. Theoretical Background (Market Microstructure Theory)

2. Structure in Germany

3. Structure in Europe

4. Structure in Russia (Discussion)

Folie 2

68898888.003.png

68898888.004.png

68898888.005.png

68898888.006.png

68898888.007.png

68898888.008.png

68898888.009.png

68898888.010.png

68898888.011.png

68898888.012.png

68898888.013.png

68898888.014.png

68898888.015.png

68898888.016.png

68898888.017.png

68898888.018.png

68898888.019.png

68898888.020.png

68898888.021.png

68898888.022.png

68898888.023.png

68898888.024.png

68898888.025.png

68898888.026.png

68898888.027.png

68898888.028.png

68898888.029.png

68898888.030.png

68898888.031.png

68898888.032.png

68898888.033.png

68898888.034.png

68898888.035.png

68898888.036.png

68898888.037.png

68898888.038.png

68898888.039.png

68898888.040.png

Impact of Liquidity and Degree of

Automation on Efficiency

Main goal of markets: Efficient resource allocation

Measure of the market’s efficiency: transaction and liquidity costs

• Development of efficient market models and trading platforms

Theoretical Background – Market Microstructure Theory

Transaction Costs

Criteria for Efficiency

Transparency

Liquidity

Evaluation

Price Steadiness

Integrity

Factor for Efficiency

Information efficiency

Regional Concentration

Effect

Frequency

Price finding

mechanism

Market Organization

Orderbook Transparency

Characteristics of the

structure

Legal Bounderies

= Effect

= trade-off

Marktkonzentration

Folie 3

Computerization

68898888.041.png

68898888.042.png

68898888.043.png

68898888.044.png

68898888.045.png

68898888.046.png

68898888.047.png

68898888.048.png

68898888.049.png

68898888.050.png

68898888.052.png

68898888.053.png

68898888.054.png

68898888.055.png

68898888.056.png

68898888.057.png

68898888.058.png

68898888.059.png

68898888.060.png

68898888.061.png

Transaction Costs on Equity Markets

Liquidity

Computerization

(Transaction Costs)

Folie 4

68898888.063.png

68898888.064.png

68898888.065.png

68898888.066.png

68898888.067.png

68898888.068.png

Folie 5

68898888.069.png

68898888.070.png

68898888.071.png

68898888.072.png

68898888.074.png

68898888.075.png

68898888.076.png

68898888.077.png

68898888.078.png

68898888.079.png

68898888.080.png

Plik z chomika:

Inne pliki z tego folderu:

Inne foldery tego chomika:

Zgłoś jeśli naruszono regulamin