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Electronic vs. Floor Based TradingGetting the Trades Made

Electronic vs. Floor Based Trading: Getting the Trades Made Chapter 1: GETTING THE TRADES MADE Moderator-AvnQr Wolf, Zicklin School of Business, Baruch College Chairman, Economics & Finance Department and Director, International Programs Puneet Handa, University of Iowa Associate Professor Michael Pagano, Villanova University Assistant Professor James Ross, Burlington Capital Markets Managing Director, Call Market Trading AVNER WOLF: Good morning, everyone. Welcome to this beautiful vertical campus at Baruch College. Before I hand over the microphone to Mike, Puneet and Jim, I would like to mention some work involving Bob and I that is related to the presentations that will be made on this panel by Mike and Puneet. In one of our papers, we found that traditional buyers and sellers are commonly in the market together at the same time. An important reason is that they have different views about the stocks they are trading. At this same moment in time, some participants are bulls and some are bears. Some want to buy, while others want to sell. You will see a connection between this reality and Mike Pagano's discussion about book building. Mike's paper, which is being produced with Bob and Archishman Chakraborty, shows how hard it is to get orders out of traders' pockets and onto http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Electronic vs. Floor Based TradingGetting the Trades Made

Part of the Zicklin School of Business Financial Markets Conference Series Baruch College Book Series
Editors: Schwartz, Robert A.; Byrne, John Aidan; Colaninno, Antoinette
Wolf, Avner; Handa, Puneet; Pagano, Michael; Ross, James
Electronic vs. Floor Based Trading — Jan 1, 2006
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Publisher
Springer US
Copyright
© Springer Science+Business Media, Inc. 2006
ISBN
978-0-387-29909-9
Pages
1 –16
DOI
10.1007/0-387-29910-6_1
Publisher site
See Chapter on Publisher Site

Abstract

Chapter 1: GETTING THE TRADES MADE Moderator-AvnQr Wolf, Zicklin School of Business, Baruch College Chairman, Economics & Finance Department and Director, International Programs Puneet Handa, University of Iowa Associate Professor Michael Pagano, Villanova University Assistant Professor James Ross, Burlington Capital Markets Managing Director, Call Market Trading AVNER WOLF: Good morning, everyone. Welcome to this beautiful vertical campus at Baruch College. Before I hand over the microphone to Mike, Puneet and Jim, I would like to mention some work involving Bob and I that is related to the presentations that will be made on this panel by Mike and Puneet. In one of our papers, we found that traditional buyers and sellers are commonly in the market together at the same time. An important reason is that they have different views about the stocks they are trading. At this same moment in time, some participants are bulls and some are bears. Some want to buy, while others want to sell. You will see a connection between this reality and Mike Pagano's discussion about book building. Mike's paper, which is being produced with Bob and Archishman Chakraborty, shows how hard it is to get orders out of traders' pockets and onto

Published: Jan 1, 2006

Keywords: Nash Equilibrium; Market Maker; Handling Cost; Trade Size; Sell Order

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