Trading algorithmique – AT

Stock market activity used to be concentrated on floors, but thanks to progress in communication technologies, most exchanges are now electronic. This has enabled financial institutions to develop programs to automate most of their trading strategies. Algorithmic trading may be defined as the automated, computer-based execution of orders via direct market-access channels, usually with the goal of meeting a particular benchmark. The massive use of algorithmic trading in financial markets (16% to 45% of trading volume according to the markets) raises important questions. The objective of this research project is to analyze the impact of 'algorithmic trading' on financial markets. Does it improve market quality' The answer of this main question may have policy implications for the regulators.