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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... Patent and Trademark Office: Box 65 (US Patent Number 6,061,663: Nasdaq, May 9, 2000); Box 67 (US Patent Number 1647: Samuel Morse: June 20, 1840); Box 616 (US Patent 96567: Thomas A. Edison, Assignor to Samuel S. Laws: November 9, 1869) ...
... patent protection, bid, spreads, backoffice, credit, quotation, martingales, short squeeze, and clearing house. All of these terms were known by Thomas Edison, whose first successful business was a consultancy for market data vendors ...
... patented code due to Samuel Morse (1791–1872). As the length of the wire increased, signals became difficult to detect (because of the wire's internal resistance). A signal transmitted with a more powerful battery (providing a greater ...
... patented electromechanical repeaters. The electromagnet used to detect weak signals at the receiving end was hinged to a switch that was used to transmit a strong voltage using a separate battery; consequently, the same signal can be ...
... patented invention a quadruplex repeater. Quadruplex helped Western Union save $20 million in wiring costs. Edison's quadruplex is a special case of what is today called multiplex. A multiplexer (sometimes called a concentrator) is a ...