Treasure Land: The Game of Wall Street

Author: Jiang He et al
Publisher:
Publish Date: 2007-01-01
Features: Future Financial Trading Trends: In the future, trading will no longer be constrained by geographical boundaries or policies. Transactions will be based solely on cost or preference for a particular trading system, the liquidity of assets in a country, or its tax environment. Stock exchange systems will become interoperable, and information and analysis systems will increasingly converge. Due to the unification of trading systems, the role of market intermediaries has significantly diminished. Large multinational corporations, due to their business dealings, will begin to take on the role of brokers/dealers themselves. Governments and financial institutions around the world will have to face new challenges. Commercial investment exchanges will eventually open to all aspiring independent financial institutions, and trading fees will decline, leaving brokers and traditional exchanges in a difficult position. New-generation traders are adept at electronic devices and computers. Computerization has not only pushed securities trading into new realms but also created more opportunities on a global scale. The New York Stock Exchange is becoming increasingly globalized, listing more foreign stocks, and extending trading hours, allowing members to trade during any designated time slot. Once exchanges around the world are interconnected, a 24-hour global order transmission system will eventually be formed, enabling the trading of commodities listed on one exchange in other exchanges across different time zones. This book first introduces the basic knowledge of the U.S. financial market, then separately covers stocks, bonds, and mutual funds, derivatives, futures, and foreign exchange.