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Kniha Market Structure & Regulation Victor Trex

Market Structure & Regulation

Navigating NMS, MiFID, and Payment for Order Flow

Autor: Victor Trex
Jazyk: Angličtina
Vazba: Brožovaná
Vydavatel: NobleTrex Press
Dostupnost: Skladem u dodavatele
Odesíláme za 14-21 dnů
716 Kč
"Market Structure & Regulation: Navigating NMS, MiFID, and Payment for Order Flow"In an era defined...

Informace o knize

Autor
Victor Trex
Jazyk
Angličtina
Vazba
Kniha - Brožovaná
Vydáno
2025
Stránek
170
EAN
9798896652465
Enbook ID
53028468
Vydavatel
NobleTrex Press
Hmotnost
237
Rozměry
152 x 229 x 9

Kompletní popis

"Market Structure & Regulation: Navigating NMS, MiFID, and Payment for Order Flow"

In an era defined by fragmented liquidity and millisecond-latency arbitrage, understanding the plumbing of financial markets is a competitive necessity. This book serves as the essential handbook for investment banking professionals, institutional traders, and market participants navigating the complex intersection of law, technology, and economics. It strips away the jargon to reveal how modern execution ecosystems truly function, offering a clear path through the dense regulatory landscapes that dictate global trading behavior today.

This volume provides a rigorous technical breakdown of U.S. and European architectures, contrasting the order protection mandates of Regulation NMS with the transparency-first approach of MiFID II. Readers will gain a deep understanding of market microstructure, including limit order book dynamics, the mechanics of Payment for Order Flow (PFOF), and the controversial economics of internalization. By dissecting the incentives of exchanges, dark pools, and market makers, the text illuminates exactly how liquidity is formed and where execution costs are incurred.

Going beyond abstract theory, this text acts as a practical manual for execution governance and operational design. From constructing rigorous Transaction Cost Analysis (TCA) frameworks to designing surveillance systems for market abuse, the book bridges the gap between regulatory mandates and daily trading reality. Whether managing a global trading desk or overseeing compliance, readers will acquire t