In this article, I examine how electronic trading has altered stock markets. I begin with an overview of how the stock trading process works and then address a number of questions. How have the jobs of traditional stock market dealers on the NYSE and on Nasdaq been affected by electronic...

We demonstrate how a machine learning algorithm can be applied to predict and explain modern market microstructure phenomena. We investigate the efficacy of various microstructure measures and show that they continue to provide insights into price dynamics in current complex markets. Some...

The volume clock : insights into the high-frequency paradigm / David Easley, Marcos López de Prado, Maureen O'Hara -- Execution strategies in equity markets / Michael G. Sotiropoulos -- Execution strategies in fixed income markets / Robert Almgren -- High-frequency trading in FX markets / Anton...