Focusing on market microstructure, Harris (chief economist, U.S. Securities and Exchange Commission) introduces the practices and regulations governing stock tr

The true meaning of investment discipline is to trade only when you rationally expect that you will achieve your desired objective. Accordingly, managers must t

Exchanges play an essential and central role in the world's economy. They epitomize transparency in the price-formation process, informing investors and dissemi

Anyone reading the business section of a newspaper lately knows that the financial exchanges--stock, bonds, FX, commodities, and so forth--are undergoing tremen

The interactions that occur in securities markets are among the fastest, most information intensive, and most highly strategic of all economic phenomena. This b