01796cas a2200241 a 4500 AALejournalIMF001958 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849783 1018-5941 BD-DhAAL BD-DhAAL Domowitz, Ian. A Taxonomy of Automated Trade Execution Systems / Ian Domowitz. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (56 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students A taxonomy of existing and planned automated trade execution systems in financial markets is provided. Over 50 automated market structures in 16 countries are analyzed. The classification scheme is organized around the principle that such markets consist of an algorithm that performs a trade matching function, together with information display and transmission mechanisms. Automated market structures are classified by ordered sets of trade execution priority rules, trade matching protocols and associated degree of automation of price discovery, and transparency, to include informational asymmetries between classes of market participants. Systematic differences in systems across types of financial instruments, geographical market centers, and over time are analyzed. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1992/076 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/076/001.1992.issue-076-en.xml IMF e-Library