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shirley_hd · 2020年10月31日

此题算法交易为何是Liquidity seeking呢?

Wong follows the music industry and, specifically, Music Plus. After highly anticipated data about the music industry is released shortly after the market opens for trading, the share price of Music Plus quickly increases to $15.25. Wong evaluates the new data as it relates to Music Plus and concludes that the share price increase is an overreaction. She expects the price to quickly revert back to her revised fair value estimate of $14.20 within the same day. When the price is $15.22, she decides to prepare a large sell order equal to approximately 20% of the expected daily volume. She is concerned about information leakage from a public limit order. Wong’s supervisor suggests using algorithmic trading for the sell order of the Music Plus shares.


标红字体不是指POV的意思么,为何答案是liquidity seeking呢?

2 个答案

吴昊_品职助教 · 2020年10月31日

同学你好:

不好意思,由于官网权限问题我这边显示不出来,个人觉得这个题出的有点问题,你的理解没有什么问题。今年官网的题目质量不是很高,有些题目出的比较混乱,我们不用太过纠结。

吴昊_品职助教 · 2020年10月31日

同学你好:

请问能否告知这道题的来源?看到完整题目更便于解答。个人认为你的理解没有问题。

shirley_hd · 2020年10月31日

https://study.cfainstitute.org/app/cfa-program-level-iii-for-december-2020-and-june-2021#quiz/review/categories/41590/2360011 官网习题,不知是否可以显示出来。

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