In This Chapter
Introducing the market makers
Checking out the venues where the action takes place
Understanding who the different participants are
Examining how the players operate
Chapter 3 describes how a securities market typically functions. One thing is certain: markets have come a long way from the days when traders met by a single bench and traded! Nowadays trading is a bit more complicated (although the principle remains the same). Today fast Internet connections, real time price quotes and a global market that is big – massive in fact – make trading quicker and easier. And the number of people involved in trading around the world is huge.
The larger a market gets, the more supporting structures it needs, and dark pools are no different. This chapter takes a closer look at all the participants and structures that keep dark pools trading and ticking along like a well-oiled machine (well, not always). Part IV discusses when things go bump in the trading world.
The clue is in the name: a market ...