Dynamical Structure of Behavioral Similarities of the Market Participants in the Foreign Exchange Market

  • Aki-Hiro Sato
  • Kohei Shintani
Part of the New Economic Windows book series (NEW)


The financial markets started to be computerized due to development and spread of the Information and Communication Technology (ICT) in early 1990s. As the result rapid development and spread of electrical trading systems occurred all over the world. Moreover advance of processing speed of computers and capacity of storages leads to accumulation of activity records of market participants, high frequency financial data. By utilizing the high frequency financial data one can observe behavior of the market participants with high resolutions and analyze a large amount of data enough to quantify them in the statistically significant.


Discrete Fourier Transform Market Participant Foreign Exchange Market Instantaneous Phase Normalize Power Spectrum 
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Copyright information

© Springer-Verlag Italia 2007

Authors and Affiliations

  • Aki-Hiro Sato
    • 1
  • Kohei Shintani
    • 1
  1. 1.Department of Applied Mathematics and Physics, Graduate School of InformaticsKyoto UniversityKyotoJapan

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