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zhouyu · 2022年06月27日

可以解释?

NO.PZ2021101401000028

问题如下:

They discuss the increasing impact of market fragmentation on available liquidity for the company’s trading strategies. Riley makes the following comments regarding market fragmentation:

Comment 1 Liquidity aggregation and smart order routing help traders manage the challenges and opportunities presented by fragmentation.

Comment 2 With increasing market fragmentation, traders who fill large orders now search for liquidity across multiple venues and across time to control market impact.

Which of Riley’s comments related to market fragmentation is accurate?

选项:

A.

Only Comment 1

B.

Only Comment 2

C.

Both Comment 1 and Comment 2

解释:

C is correct. Both of Riley’s comments are correct. Electronic algorithmic trading techniques, such as liquidity aggregation and smart order routing, help traders manage the challenges and opportunities presented by fragmentation.

Liquidity aggregators create “super books” that present liquidity across markets for a given instrument. These tools offer global views of market depth (available liquidity) for each instrument regardless of the trading venue that offers the liquidity. Smart order-routing algorithms send orders to the markets that display the best quoted prices and sizes. Additionally, with increasing market fragmentation, traders filling large orders adapt their trading strategies to search for liquidity across multiple venues and across time to control the market impacts of their trades.

如题。可以解释一下吗?

1 个答案

星星_品职助教 · 2022年06月27日

同学你好,

如果对本题整体都不理解,可听本章课后题讲解的Q11,视频位置如截图。

如果对于讲解的细节有后续疑问,可以具体说明问题是什么并进行追问。

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