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Call Auction Trading: New Answers to Old Questions

  • Robert A. Schwartz
  • John Aidan Byrne
  • Antoinette Colaninno

Table of contents

  1. Front Matter
    Pages i-xx
  2. Robert A. Schwartz
    Pages 1-14
  3. Robert A. Schwartz, J. D. Delafield, William Harts, Jan Kregel, Marianne Demarchi, Duncan Niederauer et al.
    Pages 15-38
  4. Kenneth D. Pasternak
    Pages 39-47
  5. Ian Domowitz, Andrew Howieson, Raymond Killian Jr., William Lupien, James Ross, Bruce Weber et al.
    Pages 49-67
  6. William Brodsky
    Pages 77-86
  7. Junius Peake, Paul Davis, Gerald Putnam, Cameron Smith, Daniel Weaver, Steven Wunsch
    Pages 87-106
  8. Robert Wood, Kim Bang, Harold S. Bradley, William G. Christie, Peter Jenkins, George Sofianos et al.
    Pages 107-128
  9. Back Matter
    Pages 129-157

About this book

Introduction

This book is based on the proceedings of The Electronic Call Auction: New Answers to Old Questions, a conference hosted by the Zicklin School of Business on May 16, 2000. The text includes the edited transcripts of the panel discussions and separate addresses by three major industry executives Douglas M. Atkin, formerly President and CEO, Instinet Corporation; Kenneth D. Pasternak, formerly President and CEO, Knight/Trimark Group, Inc., and William J. Brodsky, Chairman and CEO, Chicago Board Options Exchange. The electronic call auction is an important trading vehicle in many market centers around the world, but is not well understood in the US. What are call auctions? How should they be designed and integrated with continuous trading in a hybrid market structure? As call auctions play a more central role in the US markets, how will they affect market quality in terms of transparency, order flow consolidation, and price discovery? These and other critical questions were asked at the conference while the efficiency of the US markets was broadly assessed.

Keywords

Rating derivatives equity market market structure trading

Authors and affiliations

  • Robert A. Schwartz
    • 1
  • John Aidan Byrne
  • Antoinette Colaninno
    • 1
  1. 1.Zicklin School of BusinessBaruch College, CUNYUSA

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