The chapter presents the arguments that trading in stock-index futures, and especially arbitrage against the underlying stocks, led to increased volatility in the stock market. Except for the Triple Witching Hour where the link between futures and the potential for sharp price changes in the ...
The meaning of PROGRAM TRADING is computerized trading of large blocks of stocks in one market and stock index futures in another so as to take advantage of price differentials between the markets.
Define Program Trade. Program Trade synonyms, Program Trade pronunciation, Program Trade translation, English dictionary definition of Program Trade. n. Automatic trading of large blocks of stock or other securities based on algorithms that respond to ma
Program trading values, Fair value, index arbitrage values, and program trading probability graphs are updated daily. Index metrics include stock listings sorted by price change vs. the index, dividend yield, weight in the index, and capitalization. A ca
Program Trading Purpose There are several reasons for program trading. These include principal, agency, and basis trading. Principal trading: A brokerage firm may use program trading to buy a portfolio of stocks under their own account that they believe will increase in value. To generate additiona...
The proposition that program trading causes stock prices to overreact to current information is tested using trading activity data from the New York Stock Exchange for a 34-month period. The study intends to establish whether program trading should be considered as a type of noise trading or as ...
You are seeing (A) the futures market for the index being overvalued relative to the stock market. 2. You are betting (B) the index future’s price will fall while at the same time, the index’s stocks’ prices will rise to reach equilibrium. Example ? You are trading in the S&P ...
to help the regulators identify and track sales of borrowed stocks, and identify speculative trading. legco.gov.hk 這些規定有助規管當局鑑別和追查借 用股票的出售,以及鑑定投機性買賣。 legco.gov.hk [...] human rights, have made it very difficult to develop a common United Nations country p...
Program trading（非常偏的点，稍作了解即可）：原版书对它的定义是同时买卖多只股票的一种策略，该策略...
SYSTEM AND METHOD FOR AUTOMATIC STOCK TRADING, AND RECORDING MEDIUM RECORDED WITH A PROGRAM THEREFOR. Provided are automatic stock trading method and system for trading spot stocks and stock price index futures by using a computer system connected to a data communication network and a computer-reada...