Floor trading versus computer trading - Does it matter? Computer systems for securities trading date from the 1980s. These systems are large, costly and extremely complex. Outcomes from their introduction were unforeseen and the relevant research literature is sparse. This project will investigate experimentally with a simulated trading system the effects on trading behaviour of important system parameters. Intelligent support systems for traders will also be developed and tested. The project ....Floor trading versus computer trading - Does it matter? Computer systems for securities trading date from the 1980s. These systems are large, costly and extremely complex. Outcomes from their introduction were unforeseen and the relevant research literature is sparse. This project will investigate experimentally with a simulated trading system the effects on trading behaviour of important system parameters. Intelligent support systems for traders will also be developed and tested. The project team combines needed expertise from the areas of human decision making, finance, and advanced information technologies. Results will be important for theory of market microstructure and interactive intelligent systems and also for an important industry in Australia.Read moreRead less
The Determinants and Impacts of Analyst Activity in Australian Equity Markets. Deep and liquid markets are essential ingredients to a well functioning capital market, and can assist in capital formation and the growth of firms. A rich information environment is in turn necessary to ensure liquidity and the minimisation of cost of capital. A greater understanding of what promotes a rich information environment, specifically through the activity of financial analysts, will assist in formulation ....The Determinants and Impacts of Analyst Activity in Australian Equity Markets. Deep and liquid markets are essential ingredients to a well functioning capital market, and can assist in capital formation and the growth of firms. A rich information environment is in turn necessary to ensure liquidity and the minimisation of cost of capital. A greater understanding of what promotes a rich information environment, specifically through the activity of financial analysts, will assist in formulation of policies at both the Australian Stock Exchange and individual company level, and indeed at the government level given Federal and State Government initiatives to encourage the growth of corporate Australia.Read moreRead less