Stock Markets Transformed by Tech, Empowering Traders and Reshaping Economies
Financial markets have changed due to technology, leading to a focus on market design. Market design involves creating market models, trading services, and systems. It is guided by market microstructure and aims to improve market liquidity. Xetra, a trading system by Deutsche Börse, is a successful example of market design. Key concepts like market model schemes and liquidity management have contributed to Xetra's success.