Professional Documents
Culture Documents
The movement or flow of financial resources from one country to another either for the
adjustment of BOP disequilibrium or for expanding the production frontier in a country
denotes international capital flow or movement.
Financial globalization is an aggregate concept that refers to increasing global linkages
created through cross- border financial flows. Financial integration refers to an individual
country's linkages to international capital markets
A stock exchange, securities exchange or bourse is a facility where stockbrokers and traders can
buy and sell securities, such as shares of stock and bonds and other financial instruments.
All current ATSs are “dark pools.” Dark pools are trading systems that allow
their users to place orders without publicly displaying the size and price of their
orders to other participants in the dark pool.
This reduces the number of shares outstanding and increases the per-share price proportionally.
Alternative Trading System is often a trading system that is not regulated as a exchange, but is
some sort of venue for matching the trade orders of the subscribers. Alternative trading methods
are gaining popularity worldwide and account for a lot of the liquidity within publicly traded
issues. Regulation alternative trading system was introduced from the SEC in 1998 and was
designed to protect investors along with resolve any considerations arising from this trading
system
trading venue that matches buyers and sellers to find counterparties for
purchasers and sellers of securities, but does not set rules for subscribers (other
than rules for the conduct of subscribers trading on the system). An ATS must
Examples of ATS
Call markets - An auction market where orders are grouped until they
time.
Dark pools
a dark pool (also black pool) is a private forum for trading securities, derivatives, and other
financial instruments.[1] Liquidity on these markets is called dark pool liquidity.[2] The bulk of dark pool
trades represent large trades by financial institutions that are offered away from public
exchanges like the New York Stock Exchange and the NASDAQ, so that such trades remain
confidential and outside the purview of the general investing public. The fragmentation of electronic
trading platforms has allowed dark pools to be created, and they are normally accessed
through crossing networks or directly among market participants via private contractual
arrangements. Generally dark pools are not available to the public, but in some cases they may be
accessed indirectly by retail investors and traders via retail brokers.