خرید و دانلود نسخه کامل کتاب High-Frequency Trading and Probability Theory – Original PDF

In recent years, high-frequency trading (HFT) became an extremely hot topic in capital markets around the world. Normally, HFT has the following attributes: • It is a kind of automatic trading strategy, which means that the trading is done by computer and there is no instance of human decision making during the buying or selling of any instrument. Some HFT systems allow traders to have some influence on it, but they can only change a few parameters of the strategy, and must allow the system to apply these parameters to the strategy making the trades. • The traders keep positions for a very short time. In most cases, only several seconds or minutes. Some people believe that traders should not take any position over night, while others think it is allowed. But most agree that, HFT should not keep the main parts of the position to the second day. • High-frequency traders only trade via electronic trading systems, not over-the-counter (OTC) markets, or any market still using outcries. • It uses a high-speed connection to connect to the market, so as to retrieve high-frequency market data and place orders. In most cases, HFT requires the fastest access methods for a specified market, for example, the securities exchange place.