Darkness by Design : : The Hidden Power in Global Capital Markets / / Walter Mattli.
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...
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Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2019] ©2019 |
Year of Publication: | 2019 |
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Mattli, Walter, author. aut http://id.loc.gov/vocabulary/relators/aut Darkness by Design : The Hidden Power in Global Capital Markets / Walter Mattli. Princeton, NJ : Princeton University Press, [2019] ©2019 1 online resource (264 p.) text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda 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 -- 6. Conclusion: The Way Forward -- Acknowledgments -- Appendix: Market Governance: A Theoretical Background Note -- Glossary -- Notes -- Bibliography -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star 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. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 21. Jun 2021) POLITICAL SCIENCE / Political Economy. bisacsh Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2019 English 9783110610765 Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2019 9783110664232 ZDB-23-DGG Title is part of eBook package: De Gruyter EBOOK PACKAGE Economics, Law & Social Sciences 2019 ENG 9783110610130 Title is part of eBook package: De Gruyter EBOOK PACKAGE Social Sciences 2019 9783110606485 ZDB-23-DSW print 9780691180663 https://doi.org/10.1515/9780691185699?locatt=mode:legacy https://www.degruyter.com/isbn/9780691185699 Cover https://www.degruyter.com/cover/covers/9780691185699.jpg |
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English |
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eBook |
author |
Mattli, Walter, Mattli, Walter, |
spellingShingle |
Mattli, Walter, Mattli, Walter, Darkness by Design : The Hidden Power in Global Capital Markets / 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 -- 6. Conclusion: The Way Forward -- Acknowledgments -- Appendix: Market Governance: A Theoretical Background Note -- Glossary -- Notes -- Bibliography -- Index |
author_facet |
Mattli, Walter, Mattli, Walter, |
author_variant |
w m wm w m wm |
author_role |
VerfasserIn VerfasserIn |
author_sort |
Mattli, Walter, |
title |
Darkness by Design : The Hidden Power in Global Capital Markets / |
title_sub |
The Hidden Power in Global Capital Markets / |
title_full |
Darkness by Design : The Hidden Power in Global Capital Markets / Walter Mattli. |
title_fullStr |
Darkness by Design : The Hidden Power in Global Capital Markets / Walter Mattli. |
title_full_unstemmed |
Darkness by Design : The Hidden Power in Global Capital Markets / Walter Mattli. |
title_auth |
Darkness by Design : The Hidden Power in Global Capital Markets / |
title_alt |
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 -- 6. Conclusion: The Way Forward -- Acknowledgments -- Appendix: Market Governance: A Theoretical Background Note -- Glossary -- Notes -- Bibliography -- Index |
title_new |
Darkness by Design : |
title_sort |
darkness by design : the hidden power in global capital markets / |
publisher |
Princeton University Press, |
publishDate |
2019 |
physical |
1 online resource (264 p.) Issued also in print. |
contents |
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 -- 6. Conclusion: The Way Forward -- Acknowledgments -- Appendix: Market Governance: A Theoretical Background Note -- Glossary -- Notes -- Bibliography -- Index |
isbn |
9780691185699 9783110610765 9783110664232 9783110610130 9783110606485 9780691180663 |
url |
https://doi.org/10.1515/9780691185699?locatt=mode:legacy https://www.degruyter.com/isbn/9780691185699 https://www.degruyter.com/cover/covers/9780691185699.jpg |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
332 - Financial economics |
dewey-full |
332.042 |
dewey-sort |
3332.042 |
dewey-raw |
332.042 |
dewey-search |
332.042 |
doi_str_mv |
10.1515/9780691185699?locatt=mode:legacy |
oclc_num |
1082356362 |
work_keys_str_mv |
AT mattliwalter darknessbydesignthehiddenpoweringlobalcapitalmarkets |
status_str |
n |
ids_txt_mv |
(DE-B1597)528103 (OCoLC)1082356362 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2019 English Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2019 Title is part of eBook package: De Gruyter EBOOK PACKAGE Economics, Law & Social Sciences 2019 ENG Title is part of eBook package: De Gruyter EBOOK PACKAGE Social Sciences 2019 |
is_hierarchy_title |
Darkness by Design : The Hidden Power in Global Capital Markets / |
container_title |
Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2019 English |
_version_ |
1770176300122636288 |
fullrecord |
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