3 Search Results for "Finance, Jean-Pierre"

Document
DOI: 10.4230/LIPIcs.FUN.2022.18
How Brokers Can Optimally Abuse Traders

Authors: Manuel Lafond

Published in: LIPIcs, Volume 226, 11th International Conference on Fun with Algorithms (FUN 2022)

Abstract
Traders buy and sell financial instruments in hopes of making profit, and brokers are responsible for the transaction. There are several hypotheses and conspiracy theories arguing that in some situations, brokers want their traders to lose money. For instance, a broker may want to protect the positions of a privileged customer. Another example is that some brokers take positions opposite to their traders', in which case they make money whenever their traders lose money. These are reasons for which brokers might manipulate prices in order to maximize the losses of their traders. In this paper, our goal is to perform this shady task optimally - or at least to check whether this can actually be done algorithmically. Assuming total control over the price of an asset (ignoring the usual aspects of finance such as market conditions, external influence or stochasticity), we show how in quadratic time, given a set of trades specified by a stop-loss and a take-profit price, a broker can find a maximum loss price movement. We also look at an online trade model where broker and trader exchange turns, each trying to make a profit. We show in which condition either side can make a profit, and that the best option for the trader is to never trade.
Cite as

Manuel Lafond. How Brokers Can Optimally Abuse Traders. In 11th International Conference on Fun with Algorithms (FUN 2022). Leibniz International Proceedings in Informatics (LIPIcs), Volume 226, pp. 18:1-18:19, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2022)

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@InProceedings{lafond:LIPIcs.FUN.2022.18,
  author =	{Lafond, Manuel},
  title =	{{How Brokers Can Optimally Abuse Traders}},
  booktitle =	{11th International Conference on Fun with Algorithms (FUN 2022)},
  pages =	{18:1--18:19},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-232-7},
  ISSN =	{1868-8969},
  year =	{2022},
  volume =	{226},
  editor =	{Fraigniaud, Pierre and Uno, Yushi},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops-dev.dagstuhl.de/entities/document/10.4230/LIPIcs.FUN.2022.18},
  URN =		{urn:nbn:de:0030-drops-159882},
  doi =		{10.4230/LIPIcs.FUN.2022.18},
  annote =	{Keywords: Algorithms, trading, graph theory}
}
Document
DOI: 10.4230/DagSemRep.84
Logical Theory for Program Construction (Dagstuhl Seminar 9410)

Authors: Jean-Pierre Finance, Stefan Jähnichen, Jacques Loeckx, Douglas Smith, and Martin Wirsing

Published in: Dagstuhl Seminar Reports. Dagstuhl Seminar Reports, Volume 1 (2021)

Abstract
Cite as

Jean-Pierre Finance, Stefan Jähnichen, Jacques Loeckx, Douglas Smith, and Martin Wirsing. Logical Theory for Program Construction (Dagstuhl Seminar 9410). Dagstuhl Seminar Report 84, pp. 1-46, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (1994)

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@TechReport{finance_et_al:DagSemRep.84,
  author =	{Finance, Jean-Pierre and J\"{a}hnichen, Stefan and Loeckx, Jacques and Smith, Douglas and Wirsing, Martin},
  title =	{{Logical Theory for Program Construction (Dagstuhl Seminar 9410)}},
  pages =	{1--46},
  ISSN =	{1619-0203},
  year =	{1994},
  type = 	{Dagstuhl Seminar Report},
  number =	{84},
  institution =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops-dev.dagstuhl.de/entities/document/10.4230/DagSemRep.84},
  URN =		{urn:nbn:de:0030-drops-149727},
  doi =		{10.4230/DagSemRep.84},
}
Document
DOI: 10.4230/DagSemRep.7
Logical Theory for Program Construction (Dagstuhl Seminar 9109)

Authors: Jean-Pierre Finance, Stefan Jähnichen, Jacques Loeckx, and Martin Wirsing

Published in: Dagstuhl Seminar Reports. Dagstuhl Seminar Reports, Volume 1 (2021)

Abstract
Cite as

Jean-Pierre Finance, Stefan Jähnichen, Jacques Loeckx, and Martin Wirsing. Logical Theory for Program Construction (Dagstuhl Seminar 9109). Dagstuhl Seminar Report 7, pp. 1-31, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (1991)

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@TechReport{finance_et_al:DagSemRep.7,
  author =	{Finance, Jean-Pierre and J\"{a}hnichen, Stefan and Loeckx, Jacques and Wirsing, Martin},
  title =	{{Logical Theory for Program Construction (Dagstuhl Seminar 9109)}},
  pages =	{1--31},
  ISSN =	{1619-0203},
  year =	{1991},
  type = 	{Dagstuhl Seminar Report},
  number =	{7},
  institution =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops-dev.dagstuhl.de/entities/document/10.4230/DagSemRep.7},
  URN =		{urn:nbn:de:0030-drops-148952},
  doi =		{10.4230/DagSemRep.7},
}
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