Algo bots and the law : technology, automation, and the regulation of futures and other derivatives

書誌事項

Algo bots and the law : technology, automation, and the regulation of futures and other derivatives

Gregory Scopino

Cambridge University Press, 2020

  • : pbk

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注記

Includes index

内容説明・目次

内容説明

The trillion-dollar markets for futures, swaps, commodity options, and related derivatives are extremely important to the global economy because, among other things, they influence the prices that people pay for everything from heating oil and bread to the interest rates connected to mortgages and student loans. Due to technological advances in automation and artificial intelligence, these markets have recently undergone a dramatic transformation away from human-centered trading and operations to control by high-speed automated systems. In this work, Gregory Scopino explains how such changes present challenges to the oversight of these markets and discusses potential ways for authorities to address issues presented by computerized trading and related systems. This book should be read by anyone interested in learning how artificial intelligence is used in the financial markets and how those markets are - and should be - regulated.

目次

  • Preface
  • Introduction: 1. Key concepts: algorithms, artificial intelligence, and more
  • 2. Economic definitions of common derivatives
  • 3. Legal and regulatory definitions of derivatives and other financial instruments
  • 4. FinTech: from science fiction to non-fiction
  • 5. The regulatory framework for the US derivatives markets
  • 6. Gateways to the futures markets-FCMs
  • 7. Collective investment vehicles and investment advisors
  • 8. Salespeople, supervisors, owners, and enumerated others
  • 9. Trading floor denizens
  • 10. Regulating digital intermediaries
  • 11. States of mind: from zero to specific intent
  • 12. Market manipulation: then and now
  • 13. Fraud is many things (for humans and robots)
  • 14. Disruptive trading practices
  • 15. Spoofing: market disruption made easy by technology
  • 16. Adequately supervising the overseers of algo bots
  • 17. Flash events
  • 18. Algo bots all over the world
  • 19. Conclusion.

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