{"product_id":"algorithmic-trading-and-dma-an-introduction-to-direct-access-trading-strategies-9780956399205","title":"Algorithmic Trading and DMA: An introduction to direct access trading strategies","description":"\u003cp\u003eAlgorithmic trading and Direct Market Access (DMA) are important tools helping both buy and sell-side traders to achieve best execution (Note: the focus is on institutional sized orders  not those of individuals\/retail traders). This book starts from the ground up to provide detailed explanations of both these techniques: An introduction to the different types of execution is followed by a review of market microstructure theory. Throughout the book examples from empirical studies bridge the gap between the theory and practice of trading. Orders are the fundamental building blocks for any strategy. Market  limit  stop  hidden  iceberg  peg  routed and immediate-or-cancel orders are all described with illustrated examples. Trading algorithms are explained and compared using charts to show potential trading patterns. TWAP  VWAP  Percent of Volume  Minimal Impact  Implementation Shortfall  Adaptive Shortfall  Market On Close and Pairs trading algorithms are all covered  together with common variations. Transaction costs can have a significant effect on investment returns. An in-depth example shows how these may be broken down into constituents such as market impact  timing risk  spread and opportunity cost and other fees. Coverage includes all the major asset classes  from equities to fixed income  foreign exchange and derivatives. Detailed overviews for each of the worlds major markets are provided in the appendices. Order placement and execution tactics are covered in more detail  as well as potential enhancements (such as short-term forecasts)  for those interested in the specifics of implementing these strategies. Cutting edge applications such as portfolio and multi-asset trading are also considered  as are handling news and data mining\/artificial intelligence. There is also a website for this book at www.algo-dma.com\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":45666151956533,"sku":"ByrdShop_0956399207","price":81.08,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780956399205.jpg?v=1782420989","url":"https:\/\/atxbooks.com\/products\/algorithmic-trading-and-dma-an-introduction-to-direct-access-trading-strategies-9780956399205","provider":"ATX Books","version":"1.0","type":"link"}