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

Trex, Victor

Brossura

ISBN 13: 9798896652465

Casa editrice: NobleTrex Press, 2025

Riassunto

"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

Dettagli dell'edizione

• Editore: NobleTrex Press
• Data di pubblicazione: 2025
• Lingua: Inglese
• ISBN 13: 9798896652465
• Rilegatura: Copertina flessibile
• Numero di pagine: 169
• Contatto del produttore: non disponibile
• Persona responsabile: gpsr@libri.de; gpsr@libri.de; ; Europaallee 1; Bad Hersfeld; 36244; Germania