Applications of artificial intelligence in an electronic trading system

Abstract

Improvements to the current trading exchanges and their underlying matching algorithms have been a favorite research agenda for academics and practitioners alike. In the pursuit of a versatile system that possesses the four epitome qualities of a good trading system - liquidity, transparency, efficiency and customer satisfaction - a new system was developed and tested in this dissertation. To understand the driving forces behind the plentitude changes in the financial markets, the evolution of stock trading is tracked from cradle to the present day.