Security Market Manipulation

被引:11
|
作者
Spatt, Chester [1 ,2 ]
机构
[1] Carnegie Mellon Univ, Tepper Sch Business, Pittsburgh, PA 15213 USA
[2] Natl Bur Econ Res, Cambridge, MA 02138 USA
关键词
manipulation; trading tactics; short selling; opening/closing prices; sniping; quote stuffing; STOCK-PRICE MANIPULATION; OPTION GRANTS; INFORMATION; DISCOVERY; LIQUIDITY; AUCTIONS;
D O I
10.1146/annurev-financial-110613-034232
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This article uses a variety of contemporary developments to address artificial market pricing and market manipulation. It examines a variety of modern trading tactics and manipulation strategies in the context of trading and order mechanics. For example, I raise the connection between so-called best execution, cancellation rates, and manipulation. I explore the connection between manipulation and short exposures as well as potential connections between Federal Reserve policies and artificial pricing. I also examine the nature of market manipulation in different facets of the trading day and the transitions among these.
引用
收藏
页码:405 / 418
页数:14
相关论文
共 50 条
  • [1] Market Manipulation as a Security Problem: Attacks and Defenses
    Mavroudis, Vasilios
    PROCEEDINGS OF THE 12TH EUROPEAN WORKSHOP ON SYSTEMS SECURITY (EUROSEC 2019), 2019,
  • [2] DERIVATIVE SECURITY MARKETS, MARKET MANIPULATION, AND OPTION PRICING THEORY
    JARROW, RA
    JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 1994, 29 (02) : 241 - 261
  • [3] Market manipulation and market flaws
    Pierce, Richard J.
    Electricity Journal, 2003, 16 (01): : 39 - 46
  • [4] Market manipulation and innovation
    Cumming, Douglas
    Ji, Shan
    Peter, Rejo
    Tarsalewska, Monika
    JOURNAL OF BANKING & FINANCE, 2020, 120
  • [5] STOCK MARKET MANIPULATION
    Berle, A. A., Jr.
    COLUMBIA LAW REVIEW, 1938, 38 (03) : 393 - 407
  • [6] MARKET MANIPULATION: A SURVEY
    Putnins, Talis J.
    JOURNAL OF ECONOMIC SURVEYS, 2012, 26 (05) : 952 - 967
  • [7] Digital Market Manipulation
    Calo, Ryan
    GEORGE WASHINGTON LAW REVIEW, 2014, 82 (04) : 995 - 1051
  • [8] Stock market manipulation in an emerging market of Turkey: how do market participants select stocks for manipulation?
    Ergun, Hilal Ok
    Yalaman, Abdullah
    Manahov, Viktor
    Zhang, Hanxiong
    APPLIED ECONOMICS LETTERS, 2021, 28 (05) : 354 - 358
  • [9] The interaction between security lending market and security trading market
    Wang, Tiandu
    Ma, Chenghu
    Sun, Qian
    PACIFIC-BASIN FINANCE JOURNAL, 2017, 46 : 309 - 322
  • [10] On the Security of Image Manipulation Forensics
    Cao, Gang
    Wang, Yongbin
    Zhao, Yao
    Ni, Rongrong
    Lin, Chunyu
    ADVANCES IN MULTIMEDIA INFORMATION PROCESSING - PCM 2015, PT I, 2015, 9314 : 97 - 105