The Resource Darkness by Design : The Hidden Power in Global Capital Markets, Walter Mattli

Darkness by Design : The Hidden Power in Global Capital Markets, Walter Mattli

Label
Darkness by Design : The Hidden Power in Global Capital Markets
Title
Darkness by Design
Title remainder
The Hidden Power in Global Capital Markets
Statement of responsibility
Walter Mattli
Creator
Contributor
Author
Provider
Subject
Language
  • eng
  • eng
Summary
An exposé of fragmented trading platforms, poor governance, and exploitative practices in today’s capital marketsCapital 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
Cataloging source
DE-B1597
http://library.link/vocab/creatorName
Mattli, Walter
Government publication
other
LC call number
HG3881
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
De Gruyter
http://library.link/vocab/subjectName
  • Capital market
  • International economic relations
  • International finance
  • POLITICAL SCIENCE / Political Economy
Target audience
specialized
Label
Darkness by Design : The Hidden Power in Global Capital Markets, Walter Mattli
Instantiates
Publication
Copyright
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • 6. Conclusion: The Way Forward
  • Acknowledgments
  • Appendix: Market Governance: A Theoretical Background Note
  • Glossary
  • Notes
  • Bibliography
  • Index
  • Frontmatter
  • CONTENTS
  • Figures and Tables
  • 1. Introduction
  • 2. The Puzzling Transformation of Capital Market Structure: From Gradual Concentration to Sudden Fragmentation
  • 3. Good Governance in Centralized Markets: The Old NYSE
  • 4. Stratification in Modern Trading: The Haves and Have-Nots
  • 5. Bad Governance in Fragmented Markets
Extent
1 online resource
Form of item
online
Isbn
9780691185699
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other control number
10.1515/9780691185699
Specific material designation
remote
System control number
  • (DE-B1597)528103
  • (DE-B1597)9780691185699
Label
Darkness by Design : The Hidden Power in Global Capital Markets, Walter Mattli
Publication
Copyright
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • 6. Conclusion: The Way Forward
  • Acknowledgments
  • Appendix: Market Governance: A Theoretical Background Note
  • Glossary
  • Notes
  • Bibliography
  • Index
  • Frontmatter
  • CONTENTS
  • Figures and Tables
  • 1. Introduction
  • 2. The Puzzling Transformation of Capital Market Structure: From Gradual Concentration to Sudden Fragmentation
  • 3. Good Governance in Centralized Markets: The Old NYSE
  • 4. Stratification in Modern Trading: The Haves and Have-Nots
  • 5. Bad Governance in Fragmented Markets
Extent
1 online resource
Form of item
online
Isbn
9780691185699
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other control number
10.1515/9780691185699
Specific material designation
remote
System control number
  • (DE-B1597)528103
  • (DE-B1597)9780691185699

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