In network-centered execution environments, client objects can transparently invoke services offered by remote server objects, according to their published interface. The object selection problem requires the evaluation of the fitness of a pool of candidate server objects on the basis of the available information about their functional and nonfunctional features. Network-centered systems usuall...

Latency is the time delay between an exchange streaming market data to a trader, trader processing information and deciding trade, receiving order from trader. Liquidity takers face moving target problem as consequence of their latency in marketplace. They send orders with limit price that aim at quantity they observed book (LOB), by processed exchange, prices could have worsened, so may not be...

Mathematical FinanceVolume 33, Issue 1 p. 16-18 OBITUARY Marco Avellaneda: Mathematician and trader Jim Gatheral, Corresponding Author Gatheral [email protected] orcid.org/0000-0002-0192-8797 Department of Mathematics, Baruch College, New York, USA Correspondence Mathematics Box B6-230, College One Bernard Way NY 10010, USA. Email: protected]Search for more papers by this author First published...

This paper estimates the markup for the Mexican manufacturing sector to detect the impact of trade liberalization on market power. Using Hall’s proposal that states that a procyclical Solow residual is an indication of market power, this research estimates the markup for different periods to detect the change in market power after trade liberalization was implemented. We account for the potenti...

MOST PEOPLE AGREE that stock prices sometimes behave in strange ways. Going beyond this simple observation typically proves more difficult. For at least the past quarter century, economists have been well aware that the variation of stock prices does not nicely match the familiar bell-shaped normal distribution.1 The problem is too many extreme movements. Very large increases or decreases would...

sense that they are mathematical (logical) projections of it. Like the other trading instruments I have described, then, derivatives and futures options are conflations of representation and exchange, for the representations of time and risk implicit in these trades create a purely notional trading environment whose only existence is electronic. Nevertheless, these electronic trades can have ve...