Frontiers of electronic commerce
Frontiers of electronic commerce
Readings in electronic commerce
COBRA fundamentals and programming
COBRA fundamentals and programming
Java Threads
Just Java
Restructuring institutional block trading: an overview of the OptiMark system
Journal of Management Information Systems
A Web-Based Financial Trading System
Computer
Design and Implementation of Electronic Communities
Information Technology and Management
Utility-based double auction mechanism using genetic algorithms
Expert Systems with Applications: An International Journal
A causal knowledge-based expert system for planning an Internet-based stock trading system
Expert Systems with Applications: An International Journal
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Fundamental changes are taking place in the world's financial markets that will challenge stock exchanges. As the twenty-first century approaches, more and more exchanges are adopting automated floorless trading mechanisms. This article outlines an attempt to develop an automated financial cybermarket with a bundle-matching and -execution mechanism. The market matches orders in bundles and provides a price-discovery mechanism. In many real-world situations, value is derived from a combination of assets or resources. The value will be significantly reduced when even one asset or resource is excluded from the bundle. The mechanism can be used to trade financial portfolios as well as a combination of commodities. When used for simple asset trading, the bundle mechanism is, in effect, a generalization of the k-double auction. From a computing point of view, the electronic market is a large-scale distributed computing system. Emerging technologies like Java and distributed objects can be used to create electronic markets that can be accessed universally. The technologies support interactive and dynamic information exchanges between traders and market. Computational issues, such as asynchronous processing, currency control, and scalability, are also addressed.