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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... selling of products at different times and in different market spaces. This includes arbitrage — the simultaneous buying and selling of the same product in different markets, at the same time. Financial technology depends on standard ...
... sell them at a higher price. Conversely, if a trader has credit, he can first borrow contracts from someone (and be charged a fee by the lender), immediately sell the contracts and then, at a later time (when the contract price is lower) ...
... sell the shares at any time before the 20th, hopefully (for the buyer) at a higher price: the net gain would be payable to him on the 25th. If the buyer defaults and is unable to raise the funds by the 20th, the shares are sold on the ...
... sell it at a higher price.) In the English language, the buying and selling of the same product in different markets — at the same time and with little risk of loss — is called arbitrage (from the French word for arbitrate: to render ...