Preface.
Chapter 1. Role of an Equity Market.
Chapter 2. From Information to Prices.
Chapter 3. Liquidity.
Chapter 4. What We Want From Our Markets.
Chapter 5. Institutional Order Flow.
Chapter 6. Order Driven Markets.
Chapter 7. Intermediated Markets.
Chapter 8. The Evolving Scene in the US.
Chapter 9. The Evolving Scene in Europe.
Chapter 10. Clearing and Settlement.
Chapter 11. Regulation.
Chapter 12. Simulated Trading.
Appendix A: Prices and Returns.
Appendix B: From Portfolio Decisions to Trading in a
Frictionless Environment.
Appendix C: Dimensions of Informational Efficiency.
Appendix D: The Concept of Self-Regulation.
Selected Reading.
Biographies.
ROBERT A. SCHWARTZ is Marvin M. Speiser Professor of Finance
and
University Distinguished Professor in the Zicklin School of
Business, Baruch College, CUNY. Prior to his current position,
he
was Professor of Finance and Economics and Yamaichi Faculty
Fellow
at New York Universitys Leonard N. Stern School of Business.
Professor Schwartz received his PhD in economics from Columbia
University. He has produced numerous journal articles and
eleven
books, has been an associate editor for several finance
journals,
and has served as a consultant to various market centers
including,
the New York Stock Exchange, the American Stock Exchange,
NASDAQ,
Instinet, and Deutsche Börse. In December 1995, Professor
Schwartz was named the first chairman of NASDAQs Economic
Advisory Board and served on the EAB until spring 1999.
RETO FRANCIONI is President and Chairman of the Board of SWX,
the
Swiss Stock Exchange. Prior to assuming his current position in
May
2002, he was co-CEO of Consors Discount Broker AG, Nuremberg.
Earlier in his career, in 1993, Francioni was named to the
executive board of Deutsche Börse AG, where he was responsible
for its entire cash market division. In 1999, he became Deputy
Chief Executive Officer. Francioni has a law degree and PhD in
law
from Zurich University, and is an adjunct Professor of
Economics
and Finance in the Zicklin School of Business, Baruch College,
CUNY. He has held management positions in the securities
exchange,
corporate finance, and banking industry.
"Equity Markets in Action should be required reading for all aspiring traders and equity money managers. The computer simulation model should further enlighten the reader." -- Financial Analyst Journal, January/February 2005
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