An Integrated Trading Environment: To Improve Market Transparency and Efficiency

Adela S. M. Lau ()
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Adela S. M. Lau: Department of Systems Engineering and Engineering Management, The Chinese University of Hong Kong, Shatin, N.T., Hong Kong, China

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2002, vol. 05, issue 04, 533-549

Abstract: During the 1997 financial turmoil, the overall boom and slump was mainly due to the collapse of ill-informed speculation and a non-regulated stock market system. This collapse has probably created mistrust among the public and greatly impaired confidence in securities as an investment. From this painful experience, the government should control share prices and prevent extreme fluctuations by improving the transparency and efficiency in trading information transmission, market monitoring and document disclosure.Therefore, online trading system, cross-market monitoring system and electronic filing system will be recommended in order to improve the low transparency and efficiency of financial information transmission. More importantly, all the information in these systems is inter-related for market monitoring or financial analysis. Thus, an integrated trading environment results in order to reduce redundancy work, error prone and information inefficiency.

Keywords: Market transparency and efficiency; Trading environment (search for similar items in EconPapers)
JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1142/S0219091502000870

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