Geographies of high frequency trading – Algorithmic capitalism and its contradictory elements

Crashes and high frequency trading: an evaluation of risks posed by high-speed algorithmic trading

Linguistic Capitalism and Algorithmic Mediation

Google’s highly successful business model is based on selling words that appear in search queries. Organizing several million of auctions per minute, the company has created the first global linguistic market and demonstrated that linguistic capitalism is a lucrative business domain, one in which billions of dollars can be realized per year. Google’s services need to be interpreted form this pe...

High-frequency Trading and its Role in Fragmented Markets

The financial services industry is among the leading industries in IT-spending. Still, little research exists which investigates how IT influences the financial services sector. Against this background, we study how a technology which emerged within the last years affects securities trading: High-Frequency Trading (HFT). Hereby, we focus on HFT and its impact on market efficiency. On the basis ...

High-Frequency Trading

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Algorithmic Trading and Information

We examine algorithmic trades (AT) and their role in the price discovery process in the 30 DAX stocks on the Deutsche Boerse in January 2008. AT liquidity demand represents 52% of volume and AT supplies liquidity on 50% of volume. AT act strategically by monitoring the market for liquidity and deviations of price from fundamental value. AT consume liquidity when it is cheap and supply liquidity...