{"product_id":"real-time-risk-isbn-9781119318965","title":"Real-Time Risk","description":"\u003cb\u003eRisk management solutions for today's high-speed investing environment\u003c\/b\u003e \u003cp\u003e\u003ci\u003eReal-Time Risk\u003c\/i\u003e is the first book to show regular, institutional, and quantitative investors how to navigate intraday threats and stay on-course. The FinTech revolution has brought massive changes to the way investing is done. Trading happens in microsecond time frames, and while risks are emerging faster and in greater volume than ever before, traditional risk management approaches are too slow to be relevant. This book describes market microstructure and modern risks, and presents a new way of thinking about risk management in today's high-speed world. Accessible, straightforward explanations shed light on little-understood topics, and expert guidance helps investors protect themselves from new threats. The discussion dissects FinTech innovation to highlight the ongoing disruption, and to establish a toolkit of approaches for analyzing flash crashes, aggressive high frequency trading, and other specific aspects of the market. \u003c\/p\u003e\u003cp\u003eToday's investors face an environment in which computers and infrastructure merge, regulations allow dozens of exchanges to coexist, and globalized business facilitates round-the-clock deals. This book shows you how to navigate today's investing environment safely and profitably, with the latest in risk-management thinking. \u003c\/p\u003e\u003cul\u003e \u003cli\u003eDiscover risk management that works within micro-second trading\u003c\/li\u003e \u003cli\u003eUnderstand the nature and impact of real-time risk, and how to protect yourself\u003c\/li\u003e \u003cli\u003eLearn why flash crashes happen, and how to mitigate damage in advance\u003c\/li\u003e \u003cli\u003eExamine the FinTech disruption to established business models and practices\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eWhen technology collided with investing, the boom created stratospheric amounts of data that allows us to plumb untapped depths and discover solutions that were unimaginable 20 years ago. \u003ci\u003eReal-Time Risk\u003c\/i\u003e describes these solutions, and provides practical guidance for today's savvy investor. \u003c\/p\u003e\u003cp\u003eAcknowledgments xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Silicon Valley is Coming! 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEveryone is into Fintech 3\u003c\/p\u003e \u003cp\u003eThe Millennials are Coming 7\u003c\/p\u003e \u003cp\u003eSocial Media 9\u003c\/p\u003e \u003cp\u003eMobile 10\u003c\/p\u003e \u003cp\u003eCheaper and Faster Technology 13\u003c\/p\u003e \u003cp\u003eCloud Computing 14\u003c\/p\u003e \u003cp\u003eBlockchain 15\u003c\/p\u003e \u003cp\u003eFast Analytics 15\u003c\/p\u003e \u003cp\u003eIn the End, It’s All About Real-Time Data Analytics 18\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 19\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 This Ain’t Your Grandma’s Data 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eData 21\u003c\/p\u003e \u003cp\u003eThe Risk of Data 23\u003c\/p\u003e \u003cp\u003eTechnology 27\u003c\/p\u003e \u003cp\u003eBlockchain 30\u003c\/p\u003e \u003cp\u003eWhat Elements are Common to All Blockchains? 31\u003c\/p\u003e \u003cp\u003eConclusions 39\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Dark Pools, Exchanges, and Market Structure 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe New Market Hours 51\u003c\/p\u003e \u003cp\u003eWhere Do My Orders Go? 52\u003c\/p\u003e \u003cp\u003eExecuting Large Orders 54\u003c\/p\u003e \u003cp\u003eTransaction Costs and Transparency 56\u003c\/p\u003e \u003cp\u003eConclusions 57\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 57\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Who is Front-Running You? 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpoofing, Flaky Liquidity, and HFT 64\u003c\/p\u003e \u003cp\u003eOrder-Based Negotiations 78\u003c\/p\u003e \u003cp\u003eConclusions 80\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 81\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 High-Frequency Trading in Your Backyard 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImplications of Aggressive HFT 89\u003c\/p\u003e \u003cp\u003eAggressive High-Frequency Trading in Equities 96\u003c\/p\u003e \u003cp\u003eAggressive HFT in US Treasuries 98\u003c\/p\u003e \u003cp\u003eAggressive HFT in Commodities 99\u003c\/p\u003e \u003cp\u003eAggressive HFT in Foreign Exchange 101\u003c\/p\u003e \u003cp\u003eConclusions 102\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 102\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Flash Crashes 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Happens During Flash Crashes? 104\u003c\/p\u003e \u003cp\u003eDetecting Flash-Crash Prone Market Conditions 116\u003c\/p\u003e \u003cp\u003eAre HFTs Responsible for Flash Crashes? 124\u003c\/p\u003e \u003cp\u003eConclusions 126\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 127\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Analysis of News 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Delivery of News 130\u003c\/p\u003e \u003cp\u003ePreannouncement Risk 139\u003c\/p\u003e \u003cp\u003eData, Methodology, and Hypotheses 143\u003c\/p\u003e \u003cp\u003eConclusions 154\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 154\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Social Media and the Internet of Things 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSocial Media and News 160\u003c\/p\u003e \u003cp\u003eThe Internet of Things 165\u003c\/p\u003e \u003cp\u003eConclusions 169\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 170\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Market Volatility in the Age of Fintech 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eToo Much Data, Too Little Time—Welcome, Predictive Analytics 174\u003c\/p\u003e \u003cp\u003eWant to Lessen Volatility of Financial Markets? Express Your Thoughts Online! 175\u003c\/p\u003e \u003cp\u003eMarket Microstructure is the New Factor in Portfolio Optimization 176\u003c\/p\u003e \u003cp\u003eYes, You Can Predict \u003ci\u003eT \u003c\/i\u003e+ 1 Volatility 178\u003c\/p\u003e \u003cp\u003eMarket Microstructure as a Factor? You Bet. 179\u003c\/p\u003e \u003cp\u003eCase Study: Improving Execution in Currencies 183\u003c\/p\u003e \u003cp\u003eFor Longer-Term Investors, Incorporate Microstructure into the Rebalancing Decision 184\u003c\/p\u003e \u003cp\u003eConclusions 185\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 185\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Why Venture Capitalists are Betting on Fintech to Manage Risks 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOpportunities for Disruption are Present, and They May Not Be What They Seem 189\u003c\/p\u003e \u003cp\u003eData and Analytics in Fintech 191\u003c\/p\u003e \u003cp\u003eFintech as an Asset Class 192\u003c\/p\u003e \u003cp\u003eWhere Do You Find Fintech? 194\u003c\/p\u003e \u003cp\u003eFintech Success Factors 194\u003c\/p\u003e \u003cp\u003eThe Investment Case for Fintech 196\u003c\/p\u003e \u003cp\u003eHow Do Fintech Firms Make Money? 198\u003c\/p\u003e \u003cp\u003eFintech and Regulation 198\u003c\/p\u003e \u003cp\u003eConclusions 200\u003c\/p\u003e \u003cp\u003eEnd of Chapter Questions 200\u003c\/p\u003e \u003cp\u003eAuthors’ Biographies 201\u003c\/p\u003e \u003cp\u003eIndex 203\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eIRENE ALDRIDGE\u003c\/b\u003e is managing director and quantitative portfolio manager at ABLE Alpha Trading and president of ABLE Markets. She is author of \u003ci\u003eSearching for High-Frequency Trading Opportunities \u003c\/i\u003eand \u003ci\u003eHigh-Frequency Trading\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eSTEVE KRAWCIW\u003c\/b\u003e is CEO of ABLE Markets, a leader in market microstructure analytics. His experience comes from such firms as McKinsey \u0026amp; Co. and Credit Suisse, and he is coauthor (with Irene Aldridge) of \u003ci\u003eQuant Investor Almanac 2011\u003c\/i\u003e.    \u003c\/p\u003e\u003cp\u003eTechnology is developing and changing the way we live and work more and more every day, and in the financial markets it has created a double-edged sword. Today’s investors are more informed and have more access to a broader range of investments than ever before, but they’re also exposed to unprecedented risk at a moment’s notice. \u003ci\u003eReal-Time Risk \u003c\/i\u003eshows all types of investors how to fully benefit from the data-rich insight and opportunities cutting-edge technology offers, while protecting assets from an always-on market. \u003c\/p\u003e\u003cp\u003eMost investors don’t fully understand how much FinTech has fundamentally changed the face of finance and investing. Do you know there are now twenty-one national security exchanges? Do you know allocating to stocks favored by high-frequency traders will improve a long-term buy-hold strategy? Do you understand how regulation will limit or expand your options tomorrow? This accessible treatment focuses on the impact—both documented and perceived—FinTech disruptions have on companies and how investors can profit from market reactions. FinTech is not only ushering in an unprecedented way of doing business and investing but also establishing its own asset class for investors to grow wealth while these startups continue to disrupt the industry and take market share. This proven authorial team, experts in cutting-edge quantitative and high-frequency trading, fully positions you for success in the new reality of growing wealth by putting at your fingertips the ability to: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eExplore in-depth the blatant and not-so-obvious ways high-frequency trading impacts your investments\u003c\/li\u003e \u003cli\u003eSee why market microstructure is no longer just for execution traders and market makers and how long-only strategies suffer by ignoring it\u003c\/li\u003e \u003cli\u003eDevelop a balanced, data-driven perspective on global markets to make more informed investment decisions\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eNavigate today’s investing landscape safely and profitably with \u003ci\u003eReal-Time Risk\u003c\/i\u003e.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989922562277,"sku":"NP9781119318965","price":40.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119318965.jpg?v=1761785919","url":"https:\/\/k12savings.com\/products\/real-time-risk-isbn-9781119318965","provider":"K12savings","version":"1.0","type":"link"}