Introduction to Financial TechnologyThe financial technology environment is a dynamic, high-pressured, fast-paced world in which developing fast and efficient buy-and-sell order processing systems and order executing (clearing and settling) systems is of primary importance. The orders involved come from an ever-changing network of people (traders, brokers, market makers) and technology. To prepare people to succeed in this environment, seasoned financial technology veteran Roy Freedman presents both the technology and the finance side in this comprehensive overview of this dynamic area. He covers the broad range of topics involved in this industry--including auction theory, databases, networked computer clusters, back-office operations, derivative securities, regulation, compliance, bootstrap statistics, optimization, and risk management—in order to present an in-depth treatment of the current state-of-the-art in financial technology. Each chapter concludes with a list of exercises; a list of references; a list of websites for further information; and case studies.
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From inside the book
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... operators take great pains to eliminate cheating. Enforcing a game's fairness increases a casino's appeal as a gambling destination: this brings in more players, greater liquidity, and ultimately more profits to the players and the ...
... operators must be officially chartered by governments to comply with laws that are specially designed for these activities. In the United States, gambling is regulated by statelevel gambling control commissions. Financial markets are ...
... Operators posted at each station were able to see the semaphore towers — with a telescope — to distances up to 20 miles in clear daytime weather. The Chappe telegraph network technology included the creation of new protocols, the ...
... operators did not know the meaning of the encoded message (the code was only known to special individuals called ... operator would, if necessary, encapsulate information signals with control signals. The control codes would precede or ...
... operators could reliably and securely transmit about one symbol per minute per 20mile repeater station. (Note that ... operator requires to move the station arms in order to receive and relay (or route) the symbol. This “hidden time” is ...