文章基本信息

标题：The Growth of High-Frequency Trading: Implications for Financial Stability
本地全文：下载
作者：Anna Pomeranets ; William Barker
期刊名称：Financial System Review
印刷版ISSN：1705-1290
电子版ISSN：1705-1304
出版年度：2011
出版社：Bank of Canada
摘要：High-frequency trading (HFt ), which relies on computers to execute trades at high speeds, accounts for approxi-mately one-quarter of all trading in the canadian equity market, and more than half in the U S market 1a relatively recent but fas t-growing phenomenon, HF t has evolved with the changing structure of financial markets, yet its overall effect on financial markets and stability is not fully understood For example, while the growth of HF t has been associated with market-wide benefits, it also magni-fies certain risks, which may cascade into financial sys-tems and lead to financial instability