Trading and Exchanges: Microstructure for Practitioners Paperback

This is a book that incorporates economics and all the activities that can and do take place in trading on the Stock Exchanges or over the counter. It is mainly geared for the US but as someone who works in the industry in the UK I believe that this should be a must read for anyone interested in trading or regulating the trading environment. It explains most aspects of trading clearly and balances out the good and bad sides while also managing to delve into economic and human motivations.Not many economics books have references to trading places the movie with Eddie Murphy and Dan Ackroyd (apart from this one) and LH has these informative bits all around the book ensuring that the reading never gets too heavy. Its a bit like an advert from a Paul Verhoven movie enlightening you to the social attitudes within the movie society and also managing to amuse you.Good Book Larry... now please write a bit more.. shame to waste such talent.

The content totally deserves 5 stars. Unfortunately the author took the gender equality issue to the extreme. Female traders really don't fit into the mental picture the examples are supposed to provide. Very distracting and annoying. Great book otherwise.

Very good book but beware that some seller selling paperback Indian edition branded as US hardcover edition. The quality of the printing of the two editions is of huge difference.

Some useful comments on how the markets work at a deeper level. Really helps with understanding (from a forex trading viewpoint)

This is an excellent book about market microstructure (as the title suggests...), the various players and their purposes, price discovery, liquidity, orders, types of markets, regulations, and a lot more that doesn't come to mind. If you want to understand markets, if you want to understand why price moves, this is the book.

Excellent reading for people who want to know more about the trading industry. Written with lot of details by a former SEC Chief Economist (2002-2004 term). Unfortunately is an industry in constant evolution therefore is difficult for a text book to keep up with the latest developments, and for one published in 2003, if not updated, lose a bit of shine. Besides the headlines, right now, this book is a must-read for traders.

This is an extremely well-written storybook, with a lot of jargon. However, researchers and mathematically inclined readers will be somewhat disapointed by the poor quantitative materials provided by the book. Moreover, the book does not really deal with the extensive academic literature on market microstructure - contrary to a good book written in French (La Microstructure des Marchés d'Actions, Economica, 2003) by Albert Minguet who comments and summarizes papers. But the title is NOT misleading: this book is great "for practitioners" (as well as for final BSc students / 1st year Master students who want "to get a feel about how markets work in practice"). Maybe I should have given it "5 stars" after all...

This book is a great resource for learning about market structure and trading, it provides a great overview of the different types of securities and how they trade, different market participants and how they behave, and how they can affect markets. It also covers market manipulation, bubbles and crashes, liquidity, volatility and many other important topics. I can't recommend this enough if you are trying to learn about market structure and trading.