Financial Trading and Investing

by John L. Teall

Overview

Financial Trading and Investing, Third Edition provides a useful introduction to trading and market microstructure for advanced undergraduate as well as master’s students. Without demanding a background in econometrics, the book explores alternative markets and highlights recent regulatory developments, implementations, institutions and debates. The text offers explanations of controversial trading tactics (and blunders) such as high-frequency trading, dark liquidity pools, fat fingers, insider trading and flash orders, emphasizing links between the history of financial regulation and events in financial markets. It includes coverage on valuation and hedging techniques, particularly with respect to fixed income and derivatives markets, accompany updated regulatory information.

Combining theory and application, this book provides a practical beginner's introduction to today's investment tools and markets.

• Provides a logical progression from normative theory to concise mathematical applications
• Offers coverage of European examples, welfare economics and tax law updates
• Includes improved pedagogical supplements, including end-of-chapter questions with detailed solutions at the end of the text, and useful appendices
• Student resources available online: https://www.elsevier.com/books-and-journals/book-companion/9780323909556
• Instructor resources available for request by qualified professors: https://educate.elsevier.com/9780323909556

Product Details

ISBN-13:	9780323909556
Publisher:	Elsevier Science
Publication date:	10/17/2022
Edition description:	3rd ed.
Pages:	576
Product dimensions:	7.50(w) x 9.25(h) x (d)

About the Author

John Teall is a visiting professor at LUISS Business School in Rome, Italy. He is a former member of the American Stock Exchange and has served as a consultant to Deutsche Bank, Goldman Sachs, and other financial institutions.

Table of Contents

1. Introduction to Securities Trading and Markets 2. Securities Markets 3. Financial Market Utilities and Securities Trading Support 4. Institutional Trading 5. Regulation of Trading and Securities Markets 6. Adverse Selection, Trading, and Liquidity 7. Random Walks, Risk and Arbitrage 8. Arbitrage and Hedging with Fixed Income Instruments and Currencies 9. Arbitrage and Hedging with Options 10. Evaluating Trading Strategies and Performance 11. The Mind of the Investor 12. Market Efficiency 13. Trading Gone Awry

What People are Saying About This

From the Publisher

An up-to-date introduction on trading and market microstructure for undergraduates and master’s students

Editorial Reviews

"Teall’s Financial Trading and Investing presents clear and up-to-date coverage of trading and market microstructure. Arbitrage and hedging examples in currency, forwards, fixed income and options markets are well developed, with particular attention devoted to implementing transactions." —Ahmet K. Karagozoglu, Hofstra University

"I enjoyed reading the material in Financial Trading and Investing. Dr. Teall’s coverage of the content in this text is very thorough, and it fills a niche in academic and professional literature on trading and market microstructure." —Travis Jones, Florida Gulf Coast University

"The presentation is well supported not only by the extensive use of professional literature but also by examples in each chapter. The end-of-chapter questions enhance learning by enabling students to apply concepts in meaningful ways. They make the material more ‘real world' for advanced undergraduates or graduate students." —Kevin Klein, Illinois College

From the Publisher