| 000 | 03142cam a2200301 i 4500 | ||
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| 003 | UK-LoPHL | ||
| 005 | 20230915162213.0 | ||
| 007 | ta | ||
| 008 | 230915s2019 xxua f b 001|0|eng|d | ||
| 020 |
_a9780691216867 _qpaperback |
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| 020 |
_a978069180663 _qcloth |
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| 035 | _a(StDuBDS)9780691216867 | ||
| 040 |
_aStDuBDS _beng _cStDuBDS _erda _dUK-LoPHL |
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| 082 | 0 | 4 | _a332.042 |
| 100 | 1 |
_aMattli, Walter, _eauthor. _9127467 |
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| 245 | 1 | 0 |
_aDarkness by design : _bthe hidden power in global capital markets / _cWalter Mattli. |
| 264 | 1 |
_aPrinceton ; _aOxford : _bPrinceton University Press, _c2019. |
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| 300 |
_ax, 248 pages : _billustrations (black and white) |
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| 336 |
_atext _2rdacontent |
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| 336 |
_astill image _2rdacontent |
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| 337 |
_aunmediated _2rdamedia |
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| 338 |
_avolume _2rdacarrier |
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| 505 | 0 | _aIntroduction -- The puzzling transformation of capital market structure : from gradual concentration to sudden fragmentation -- Good governance in centralized markets : the old NYSE --Stratification in modern trading : the haves and have-nots -- Bad governance in fragmented markets -- Conclusion : the way forward. | |
| 520 |
_a"Capital markets have undergone a dramatic transformation in the past two decades. Algorithmic high-speed supercomputing has replaced traditional floor trading and human market makers, while centralized exchanges that once ensured fairness and transparency have fragmented into a dizzying array of competing exchanges and trading platforms. Darkness by Design exposes the unseen perils of market fragmentation and “dark” markets, some of which are deliberately designed to enable the transfer of wealth from the weak to the powerful. Walter Mattli traces the fall of the traditional exchange model of the NYSE, the world’s leading stock market in the twentieth century, showing how it has come to be supplanted by fragmented markets whose governance is frequently set up to allow unscrupulous operators to exploit conflicts of interest at the expense of an unsuspecting public. Market makers have few obligations, market surveillance is neglected or impossible, enforcement is ineffective, and new technologies are not necessarily used to improve oversight but to offer lucrative preferential market access to select clients in ways that are often hidden. Mattli argues that power politics is central in today’s fragmented markets. He sheds critical light on how the redistribution of power and influence has created new winners and losers in capital markets and lays the groundwork for sensible reforms to combat shady trading schemes and reclaim these markets for the long-term benefit of everyone. Essential reading for anyone with money in the stock market, Darkness by Design challenges the conventional view of markets and reveals the troubling implications of unchecked market power for the health of the global economy and society as a whole."-- _cTaken from Princeton University Press site. _uhttps://press.princeton.edu/books/hardcover/9780691180663/darkness-by-design |
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| 650 | 0 |
_aInternational finance. _924565 |
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| 650 | 0 |
_aCapital market. _925300 |
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| 942 |
_2ddc _n0 _cBK |
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| 999 |
_c79118 _d79118 |
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