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Ethics, Finance, and Automation: A Preliminary Survey of Problems in High Frequency Trading.
MedLine Citation:
PMID:  23138232     Owner:  NLM     Status:  Publisher    
Abstract/OtherAbstract:
All of finance is now automated, most notably high frequency trading. This paper examines the ethical implications of this fact. As automation is an interdisciplinary endeavor, we argue that the interfaces between the respective disciplines can lead to conflicting ethical perspectives; we also argue that existing disciplinary standards do not pay enough attention to the ethical problems automation generates. Conflicting perspectives undermine the protection those who rely on trading should have. Ethics in finance can be expanded to include organizational and industry-wide responsibilities to external market participants and society. As a starting point, quality management techniques can provide a foundation for a new cross-disciplinary ethical standard in the age of automation.
Authors:
Michael Davis; Andrew Kumiega; Ben Van Vliet
Publication Detail:
Type:  JOURNAL ARTICLE     Date:  2012-11-9
Journal Detail:
Title:  Science and engineering ethics     Volume:  -     ISSN:  1471-5546     ISO Abbreviation:  Sci Eng Ethics     Publication Date:  2012 Nov 
Date Detail:
Created Date:  2012-11-9     Completed Date:  -     Revised Date:  -    
Medline Journal Info:
Nlm Unique ID:  9516228     Medline TA:  Sci Eng Ethics     Country:  -    
Other Details:
Languages:  ENG     Pagination:  -     Citation Subset:  -    
Affiliation:
Illinois Institute of Technology, Center for the Study of Ethics in the Professions, 3241 S Federal Street, 204 HH, Chicago, IL, 60616, USA, davism@iit.edu.
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