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Palgrave Macmillan
Book cover

Dark Pools

Off-Exchange Liquidity in an Era of High Frequency, Program, and Algorithmic Trading

  • Book
  • © 2014

Overview

Authors:
  1. Erik Banks
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Part of the book series: Global Financial Markets (GFM)

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xi
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  2. Market Structure

    1. Front Matter

      Pages 1-1
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    2. Introduction to Dark Pools

      • Erik Banks
      Pages 3-32

    3. Market Liquidity and Structure

      • Erik Banks
      Pages 33-63

    4. Dark Pool Structure

      • Erik Banks
      Pages 64-99

  3. Micro Issues

    1. Front Matter

      Pages 101-101
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    2. Topics in Pricing and Execution

      • Erik Banks
      Pages 103-126

    3. Trading in Dark Pools

      • Erik Banks
      Pages 127-152

    4. Aspects of Technology and Architecture

      • Erik Banks
      Pages 153-173

  4. Environment of the Future

    1. Front Matter

      Pages 175-175
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    2. Regulation, Control, and Transparency

      • Erik Banks
      Pages 177-203

    3. The Future of Dark Pools

      • Erik Banks
      Pages 204-220

  5. Back Matter

    Pages 221-261
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Keywords

About this book

This book deals with the topic of dark trading, or non-displayed, off-exchange trading execution. It discusses the development, importance and practice of dark equity trading in an environment dominated by high frequency, program, block and algorithmic trading, and considers its future prospects in a world of mobile capital and changing regulation.

Reviews

Praise for first edition:

'This is an excellent book. It is bang up to date, in what is a very fast changing area. It is clearly written, and provides a very comprehensive description of these markets and how they work. While it fully covers dark pools, its coverage is much wider than that - covering trading in equity markets more generally' - Professor Charles Sutcliffe, The ICMA Centre, University of Reading, UK

About the author

Erik Banks is an experienced practitioner and regular contributor to the literature in the field of financial risk management, traded markets and regulation. He has spent over 25 years in international banking, working at major financial institutions in New York, London, Tokyo, Hong Kong and Munich. During his career, Erik has been responsible for managing various aspects of financial risk and capital commitments at Merrill Lynch, UniCredit, XL Capital, and Citibank. He has also been a partner in a multi-strategy international equity hedge fund and has consulted for several other alternative asset hedge funds. Erik is the author of over 20 books on risk, derivatives, markets and governance.

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