Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Högfrekvenshandel – Ett hot mot de finansiella marknaderna?
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2013 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
High Frequency Trading - A threat against financial markets? (English)
Abstract [en]

 

Högfrekvenshandel har de senaste åren växt till att bli en betydande kraft på de finansiella marknaderna och således även fått mycket medial uppmärksamhet. Den här medieuppmärksamheten intensifierades den 6:

e maj 2010 då "Flash-krashen" inträffade på Dow Jones indexet i New York och påverkade marknader över hela världen.

Vår avsikt med den här kandidatuppsatsen är att kritiskt granska högfrekvenshandeln som fenomen samt den diskussion som förs angående ytterligare reglering av handeln. Detta görs genom en inledande period av litteraturstudier som kompletteras med djupintervjuer av olika aktörer på marknaden.

Våra resultat visar att högfrekvenshandeln inte för med sig så stora negativa effekter som media målar upp, och att den forskning som gjorts på ämnet indikerar att handeln främst tillför positiva effekter i form av ökad likviditet och minskad volatilitet.

Uppsatsen behandlar även dagens regleringssituation och analyserar de förslag på åtgärder som har lagts fram på EU-nivå. Vår analys visar att många av de förslag som diskuteras är direkt missriktade och inte adresserar det egentliga problemet

– en situation som kantas av oklara roller gällande tillsyn och övervakning.

Abstract [sv]

High frequency trading has during the last couple of years grown to become a significant

force in the financial markets, and therefore it has also gotten a lot of media attention. This media attention intensified on the 6

th of May 2010 when the so called "Flash Crash" occurred at the Dow Jones index in New York and affected markets all over the world.

Our intention with this bachelor thesis is to critically examine high frequency trading as a phenomenon and the discussion that is taking place concerning further regulation of the trading. This will be done through an initial period of literature studies that will be complemented with in-depth interviews with different players in the market.

Our results show that high frequency trading doesn´t come with such great negative effects as media would like to imply. The research that has been done on the subject indicates that the trading mainly adds positive effects in the form of increased liquidity and decreased volatility.

The thesis will also address todays regulatory situation and analyse the proposals for

additional regulation that has been discussed on an EU-level. Our analysis shows that many of the discussed proposals are directly misguided and doesn´t address the real problem

– a situation that is struggling with unclear roles concerning supervision and monitoring.

Place, publisher, year, edition, pages
2013.
Keyword [en]
Högfrekvenshandel, Finans, Marknadspåverkan, MIFID, MAD
Keyword [sv]
High Frequency Trading, Finance, Market impact, MIFID, MAD
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:kth:diva-128514OAI: oai:DiVA.org:kth-128514DiVA: diva2:647727
Supervisors
Examiners
Available from: 2013-09-12 Created: 2013-09-12 Last updated: 2013-09-12Bibliographically approved

Open Access in DiVA

David Lönnmar och Kristoffer Vadsmo(893 kB)778 downloads
File information
File name FULLTEXT01.pdfFile size 893 kBChecksum SHA-512
9066cdf556e36d8e9b7cf6371bed31a8e54e74a84f082231f6d2b7cf7a5323dc196cf2223c71dd0ee193646842d74284501ad6d1a6914c31c6c90da7c8b66c9f
Type fulltextMimetype application/pdf

By organisation
Real Estate and Construction Management
Engineering and Technology

Search outside of DiVA

GoogleGoogle Scholar
Total: 778 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

urn-nbn

Altmetric score

urn-nbn
Total: 338 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf