Order aggressiveness of institutional and individual investors

This paper investigates the determinants of the order aggressiveness of institutional and individual investors on the Australian Stock Exchange. Utilizing a proprietary data set that identifies institutional and individual order submissions, we document that the institutional and individual investors become more aggressive when the same-side (opposite-side) market depth increases (decreases). When the spread widens, both individual and institutional investors tend to become less aggressive. Institutional investors are more aggressive in the opening hour of the trading day, while individual investors are less aggressive initially and increase their order aggressiveness during the rest of the trading day.

Floor trading and screen trading : distinctions for practitioners

The creation of an electronic limit order book is discussed as the basis for distinguishing between the floor trading and screen trading of derivative instruments. Distinguishing between FTP and ETP in terms of market transparency allows investors to contemplate the trade-off between the 2 platforms. Distinguishing between FTP and ETP in terms of memory preservation allows practitioners to contemplate the different experiences when analyzing floor data and screen data. A comparable set of floor and screen data is used to examine the impact on the trading dynamics and price discovery of LIFFE's FTSE 100 index futures market when trading is automated on LIFFE CONNECT. The dynamics in the quote change equation is shortened when moving from the floor to screen sample. Using the model's measure of trade informativeness, it is found that in 4 out of 5 daily sub-samples, screen trades are more than twice as informative as floor trades. Variability within a system of equations is explained more by order size history than trade size history.

Islamism and political violence in the new world order

In the wake of the September 11 and subsequent terrorist attacks, the academic and media commentaries on 'Islam the religion' and 'Islam the basis for political ideology' has received an unprecedented high level of attention. This book deals with such questions as the nature of Islamism, the impact of the 'war on terror' on militancy, and more.

Europe and its (tragic) statelessness fantasy: the lure of European private law, post-national governance and political order

This book presents the first comparative and multi-disciplinary investigation into what is the process to Create a supra-national entity in which it is the classic forms of law and politics. In arguing that the post-modern phase of the 'Europeanization of Europe' is the continental paradigm of the doctrine, the concept of the "depoliticization" and "dejuridification" of the world, Siliquini Cinelli explains why its statelessness is profoundly linked to the Global '(a-) spatial turn' that is legal and sociopolitical theories are undergoing. (Noun, masculine) (Auch: the European Union, the European Union, the European Union, the European Union, the European Union) A banking union. Later, Siliquini Cinelli's comparative and inter-disciplinary approach for a thorough reconsideration of this project through an inquiry into (1) the lure of European private law as a particular type of 'stateless law'; (2) the several pluralist channels of soft-networked post-national governance. And (3) the challenges of the political order within the EU's boundaries.

Zonal banning and public order in urban Australia

In recent years, Australian governments of various ideological persuasions at local, state and territory and federal levels have introduced a range of zonal governing techniques to manage the flow of people in urban spaces. Zonal governance involves the identification and formal declaration of a specific urban geographic region to enable police and security personnel to deploy special powers and allied forms of surveillance technologies as a supplement to their conventional public order maintenance functions.

Despite the impetus towards open flows or movement within sovereign territories or larger territorial groupings, such as the European Union, considerable governmental effort has been directed towards the use of new forms of criminal law to re-territorialize urban space through new administrative, property law and regulatory measures. These low-level spatial demarcations introduce various supplementary police powers and discretionary procedures that enhance surveillance within a declared area to increase the level of contemporary urban security. Of particular concern is the legal right to ban or exclude “undesirable” individuals and groups from entering or using certain designated urban zones, to prevent antisocial or violent behavior usually associated with alcohol consumption.

To date, most discussion of the impact of banning and related surveillance measures focuses on illegal migration through ports of entry into sovereign nations and the commensurate burdens this creates for both citizens and non-citizens to authenticate their movements at national geographic borders. This logic is permeating more localized forms of regulation adopted by Australian local and mid-tier state and territory governments to control the movement of people in and out of major event sites and in the urban night-time economy.

A survey of recent reforms in the state of Victoria reveals how this new logic of mass-surveillance aims to promote greater levels of urban security while reshaping the conventional order maintenance functions of both the public and private police. This chapter describes these procedures and their impact in sanctioning the efficient screening of people to promote order in specific zones within the contemporary Australian urban environment, at the expense of more progressive and inclusive crime prevention initiatives. We focus on two exemplars of the intensification of surveillance through zonal governance techniques: ‘major events’ and ‘designated alcohol zones’.

The children's court of South Australia

This chapter provides an overview of the history and development of the Youth Court in South Australia. Drawing on interviews conducted with judicial officers and Court stakeholders, we highlight some of the changes that have taken place since the Court’s inception, as well as how the Court currently understands its role and positioning within the broader justice and welfare systems.

Key discussion points of these interviews included the Youth Court’s guiding principles and how they impact on Court procedures and responses to young people in the system, as well as the challenges that limit, or create dif fi culties for, the effective operation of the Youth Court.

It is concluded that the Youth Court system attempts to balance both welfare and justice approaches to dealing with young people, but these approaches are sometimes hindered in practice by inadequate procedural, structural and resource- related factors. Limitations of the Court and its processes are often difficult to evaluate in isolation from the broader system in which the Court is positioned.