The Rise of Computerized High Frequency Trading: Use and Controversy

Over the last decade, there has been a dramatic shift in how securities are traded in the capital markets. Utilizing supercomputers and complex algorithms that pick up on breaking news, company/stock/economic information and price and volume movements, many institutions now make trades in a matter of microseconds, through a practice known as high frequency trading. Today, high frequency traders have virtually phased out the dinosaur floor-traders and average investors of the past. With the recent attempted robbery of one of these high frequency trading platforms from Goldman Sachs this past summer, this rise of the machines has become front page news, generating vast controversy and discourse over this largely secretive and ultra-lucrative practice. Because of this phenomenon, those of us on Main Street are faced with a variety of questions: What exactly is high frequency trading? How does it work? How long has this been going on for? Should it be banned or curtailed? What is the end-game, and how will this shape the future of securities trading and its regulation? This iBrief explores the answers to these questions

MARKET INFORMATION SYSTEMS IN LIBERALIZED AFRICAN EXPORT COMMODITY MARKETS: THE CASE OF COCOA AND COFFEE IN COTE D'IVOIRE, NIGERIA AND CAMEROON

A performing market information system (MIS) is a key accompanying measure to market liberalization. The paper discusses the objectives and purposes of a MIS, its ideal characteristics and its concept and implementation, based on experiences with the cocoa and coffee MIS set up and presently operating in three liberalized African export commodity markets. A phased approach is suggested, with each phase being well defined and launched sequentially. The timing and location of the MIS unit, the dissemination strategy and the financing are discussed. An appropriate dissemination strategy is of vital importance to reach all intended beneficiaries.Marketing, International Relations/Trade,

E-COMMERCE IN AGRICULTURE: DEVELOPMENT, STRATEGY, AND MARKET IMPLICATIONS

Marketing,

Information Management and Market Engineering. Vol. II

The research program Information Management and Market Engineering focuses on the analysis and the design of electronic markets. Taking a holistic view of the conceptualization and realization of solutions, the research integrates the disciplines business administration, economics, computer science, and law. Topics of interest range from the implementation, quality assurance, and advancement of electronic markets to their integration into business processes and legal frameworks

Now for the long term: the report of the Oxford Martin Commission for Future Generations

This report is the product of a year long process of research and debate undertaken by a group of eminent leaders on the successes and failures in addressing global challenges over recent decades. As the world slowly emerges from the devastating Financial Crisis, it is time to reflect on the lessons of this turbulent period and think afresh about how to prevent future crises. The Oxford Martin Commission for Future Generations focuses on the increasing short-termism of modern politics and our collective inability to break the gridlock which undermines attempts to address the biggest challenges that will shape our future. In Now for the Long Term, they urge decision-makers to overcome their pressing daily preoccupations to tackle problems that will determine the lives of today’s and tomorrow’s generations. Dr James Martin, the founder of the Oxford Martin School, highlights that humanity is at a crossroads. This could be our best century ever, or our worst. The outcome will depend on our ability to understand and harness the extraordinary opportunities as well as manage the unprecedented uncertainties and risks.   The report identifies what these challenges are, explains how progress can be made, and provides practical recommendations. The Commission outlines an agenda for the long term. The case for action is built in three parts. The first, Possible Futures , identifies the key drivers of change and considers how we may address the challenges that will dominate this century. Next, in Responsible Futures, the Commission draws inspiration from previous examples of where impediments to action have been overcome, and lessons from where progress has been stalled. We then consider the characteristics of our current national and global society that frustrate progress. The final part, Practical Futures, sets out the principles for action and offers illustrative recommendations which show how we can build a sustainable, inclusive and resilient future for all. &nbsp

Innovation and Competition in Canadian Equity Markets

Innovations in communications and information technology and the related globalization of financial markets have created the potential for important changes to the structure of Canadian equity markets. Established marketplaces can now compete more effectively on an inter-regional and international basis. At the same time, reduced costs have lowered the barriers to entry faced by new competitors known as alternative trading systems (ATSs). In response to this heightened competition, established Canadian stock exchanges have taken measures to improve market quality. While regulators see innovation as positive for the development of Canadian markets, there is some concern that market liquidity may be fragmented in the short run. The Canadian Securities Administrators have proposed a framework that attempts to address this issue and that would allow ATSs to compete with traditional exchanges for the first time. The authors provide an overview of the Canadian equity market and its structure, focusing on these recent developments.

A manifesto for the creative economy

The UK\u27s creative economy is one of its great national strengths, historically deeply rooted and accounting for around one-tenth of the whole economy. It provides jobs for 2.5 million people – more than in financial services, advanced manufacturing or construction – and in recent years, this creative workforce has grown four times faster than the workforce as a whole. But behind this success lies much disruption and business uncertainty, associated with digital technologies. Previously profitable business models have been swept away, young companies from outside the UK have dominated new internet markets, and some UK creative businesses have struggled to compete. UK policymakers too have failed to keep pace with developments in North America and parts of Asia. But it is not too late to refresh tired policies. This manifesto sets out our 10-point plan to bolster one of the UK\u27s fastest growing sectors