ResearchTalks Vol. 3 - Markets in the dark: The rise of the robot market
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by Jennifer Nille
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ResearchTalks Vol. 3 - Markets in the dark: The rise of the robot market
- 1. Markets in the dark The rise of the robot market
- 2. In 20 years, the face of the stock exchanges has dramatically changed. A ROBOT MARKET
- 3. Out with the old
- 4. In with the new
- 6. HFT
- 7. HFT
- 10. Major Changes
- 11. For the good… • Costs of transactions decreased • Spreads tightening • Better liquidity
- 12. And the bad…
- 13. Consequences
- 15. Side effects • Investors hold less and less a stock: – in 1945, the average holding period was 4 years in the USA. – In 2000, it was 8 months – In 2008, it was 2 months • Focus on the most liquid stocks of the market
- 16. Side effects
- 17. Side effects • For Brokers
- 18. Side effects
- 19. Solutions In Europe In the United States
- 20. But…
- 21. Conclusions