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Dark Pools and High Frequency Trading For Dummies by Jay Vaananen

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Chapter 5

Meeting the Players and Places

In This Chapter

arrow Introducing the market makers

arrow Checking out the venues where the action takes place

arrow Understanding who the different participants are

arrow 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.

Recognising Who the Market Makers Are

The clue is in the name: a market ...

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