The adoption of the stochastic dominance theory to evaluate the relations among different program trading
strategies is a brand-new attempt for the study of efficiency of China's stock market.
1 The NYSE calculates program trading
as the sum of shares bought, sold and sold short in program trades.
This article examines whether program trading
should be classified as a type of noise trading or as a type of information trading.
One objective of the survey was to gauge the opinions of top financial executives on such issues as volatility and program trading
On May 10, 1988, Kidder Peabody, Morgan Stanley, Paine Webber, Bear Stearns and Salomon Brothers suspended program trading
for their own accounts.
The combination ofstock index futures and computerized program trading
has created a suped-up stock market.
Assembling this experienced team of program trading
experts is the latest in a series of steps we are taking to enhance our equity product capabilities," said Chris Bartlett, head of Equity Sales and Trading.
It results largely from a misunderstanding of program trading
and the reasons for its rapid growth over the past five years.
To download the program trading
application, please visit www.
Limits on computer-run program trading
also are activated when the market moves 50 points up or down.
Of the many types of computer-assisted securities trading, program trading
may be the most misunderstood.
NEW YORK -- Piper Jaffray has hired Doug Aronstein as head of program trading
to enhance the firm's trading capabilities on the electronic trading team.
Saito's appointment follows the hiring of Zach Tuckwell, head of pan-Asian trading in January 2010 and that of Steve Davis, head of electronic trading and program trading
and transition management in November 2009.
About 100 points: When the futures contract on the S&P 500 index falls 12 points, which works out to about 100 points in the Dow, program trading
orders are set aside for five minutes.
Backtesting and automated program trading
tools deliver a competitive edge to Active Traders