Abstract
Modern investment theory depends to a greater or lesser extent on the efficient functioning of markets. But in practice few markets are perfectly efficient. This chapter describes how the functioning of markets contributes to or compromises efficiency, covering:● Centralized versus decentralized markets.● Exchanges.● Off-exchange: dark pools.● Block trades.● Algorithmic trading.● Front running.● Soft dollars and directed commissions.● Portfolio transition.● Stock lending.
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© 2013 Frances Cowell
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Cowell, F. (2013). Implementation. In: Risk-Based Investment Management in Practice. Global Financial Markets Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137346407_17
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DOI: https://doi.org/10.1057/9781137346407_17
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46692-4
Online ISBN: 978-1-137-34640-7
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)