Electronic Market Design and Implementation
Summary
This course comprises a single project which focuses on an important area in e-finance, namely the design and implementation of an electronic market. Participants will be working in groups and supervised directly by the speaker who will be acting as a client. The electronic market will be incrementally developed as a series of software components and validated by realistic market data at the end of the course. In this course, we will follow a product-based framework to the project-based learning.
Outline of the main features of the course:
- Group based project related to EC systems in general and electronic markets in particular
- Product-based framework
- Learning the development of a complex and realistic EC System through Projects
- Projects focus on one identified area of interests (i.e. e-finance)
- Freedom for the participants to choose implementation technologies of their choice e.g. (Java, C++, J2EE, .NET or hybrids).
By the end of the course, participants should be able to:
- Learn the process of building a large enterprise system in collaboration with other project members
- Develop the main components of an electronic market
- Integrate a number of separate components to build an integrated system
- Develop testing suites for an electronic market
- Understand how a financial share-market operates (Australian Stock Exchange in this case)
Pre-requisites of the Course
- Good knowledge of databases
- Good knowledge of programming
- Good knowledge of design concepts and techniques (equivalent to UML class diagrams and ER)
Lectures and Labs
There will be a lab session at the end of each part of the course where the speaker will be handing a specific activity for each session. This will be followed by each small group working on their implementation. The following table shows a (tentative) sessions schedule.
DAY 1
Trade Data Fundamentals and Securities’ Order Books
DAY 2
Market Microstructure and Call Market Implementation in ASX
DAY 3
Continuous Market Implementation in ASX
DAY 4
Multiple-Phase Trading in ASX
DAY 5
Types of trading orders used in ASX
DAY 6 & 7
Overview of Existing Financial Systems
DAY 8
Client/Server Trading Engine (1/2)
DAY 9
Client/Server Trading Engine (2/2)