Trading and Exchanges by Larry Harris

Trading and Exchanges by Larry Harris

Author:Larry Harris
Language: eng
Format: epub
Publisher: Oxford University Press, Inc
Published: 2003-02-14T16:00:00+00:00


3 The Trading Industry

This chapter provides a brief survey of the trading industry. If you are already familiar with the industry, you can safely skip this chapter. If you are new to trading, the discussions here will provide you with the “big picture” that will allow you to better understand the rest of this book. In particular, you will be better able to discriminate between issues of primary and secondary importance if you know the context in which traders solve their trading problems.

This chapter is full of financial jargon and institutional detail. Most of it is not necessary for understanding the remainder of this book. If you are interested only in understanding market structure, you need not master the details.

We first consider who trades. Then we characterize trading instruments and the markets where they trade. Finally, we examine how regulators oversee trading.



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