000			04360cam a2200589 i 4500
001			20661534
003			OSt
005			20230810005111.0
008			180907t20192019njua b 001 0 eng d
010			_a 2018957495
015			_aGBB923247 _2bnb
016	7		_a019242653 _2Uk
020			_a9780691180663 _qhardcover
020			_a0691180660 _qhardcover
035			_a(OCoLC)on1051135093
040			_aYDX _beng _cYDX _erda _dBDX _dOCLCQ _dUKMGB _dERASA _dOCLCF _dJAS _dYDXIT _dGUL _dU3W _dUKOBU _dOCL _dCHVBK _dSHU _dJQM _dDLC
042			_alccopycat
050	0	0	_aHG3881 _b.M3817 2019
082	0	4	_a332.042 _223
092			_20
100	1		_aMattli, Walter, _eauthor.
245	1	0	_aDarkness by design [electronic resource]: _bthe hidden power in global capital markets / _cWalter Mattli.
264		1	_aPrinceton : _bPrinceton University Press, _c[2019]
264		4	_c©2019
300			_a1 digital resource (x, 248 pages) : _billustrations ; _c25 cm
336			_atext _btxt _2rdacontent
337			_aunmediated _bn _2rdamedia
338			_avolume _bnc _2rdacarrier
500			_aDr. Sothy's File
504			_aIncludes bibliographical references (pages 191-239) and index.
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	8		_aAn expose of fragmented trading platforms, poor governance, and exploitative practices in today's capital markets. 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.
650		0	_aInternational finance.
650		0	_aCapital market.
650		0	_aInternational economic relations.
650		7	_aInternational finance. _2fast _0(OCoLC)fst00976945
650		7	_aInternational economic relations. _2fast _0(OCoLC)fst00976891
650		7	_aCapital market. _2fast _0(OCoLC)fst00846356
650		7	_aBörsenrecht. _2gnd _0(DE-588)4138526-3
650		7	_aInternationaler Kapitalmarkt. _2gnd _0(DE-588)4027402-0
650		7	_aMachtstruktur. _2gnd _0(DE-588)4246883-8
650		7	_aMarktmacht. _2gnd _0(DE-588)4123714-6
650		7	_aRegulierung. _2gnd _0(DE-588)4201190-5
650		7	_aStrukturwandel. _2gnd _0(DE-588)4058136-6
650		7	_aWertpapierhandel. _2gnd _0(DE-588)4189707-9
650		7	_aFinance and Accounting. _2ukslc
887			_2CamTech Library
906			_a7 _bcbc _ccopycat _d2 _encip _f20 _gy-gencatlg
942			_2ddc _cEM _n0
999			_c1254 _d1254