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Rechtliche Limitationen des Einsatzes von High-Frequency Trading in der Versicherungswirtschaft: Aktueller Diskussionsstand und Ausblick

Rechtliche Limitationen des Einsatzes von High-Frequency Trading in der Versicherungswirtschaft: Aktueller Diskussionsstand und Ausblick

          
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About the Book

Studienarbeit aus dem Jahr 2016 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,7, FOM Hochschule für Oekonomie & Management gemeinnützige GmbH Mannheim, Sprache: Deutsch, Abstract: Die Diskussionen und wissenschaftliche Aufarbeitung rund um den Hochfrequenzhandel beziehungsweise High-Frequency Trading (HFT) sind hochaktuell und allgegenwärtig. Insbesondere seit dem "US Flash Crash" vom 6. Mai 2010 steht das Thema im Fokus der Öffentlichkeit. Durch den starken Anstieg der über HFT gehandelten Volumina nimmt der Hochfrequenzhandel eine überaus dominante Stellung an den internationalen Börsen ein und ist ein ertragreiches Geschäft. Laut einer Studie der European Securities and Market Authority (ESMA) zu HFT-Aktivitäten auf europäischen Märkten betreiben aber nur eine geringe Anzahl von Marktteilnehmern wie spezialisierte HFT-Firmen oder Investmentbanken HFT. Da andere institutionelle Investoren wie Versicherungsunternehmen bisher nicht am Hochfrequenzhandel teilnehmen, ist es Ziel dieser Projektarbeit, die rechtlichen Limitationen des Einsatzes von HFT in der Versicherungswirtschaft zu prüfen. Hierzu wird zunächst der Hochfrequenzhandel näher betrachtet. Nach einer Abgrenzung zum Algorithmischen Trading (AT) werden insbesondere Einsatzmöglichkeiten und Ziele sowie die Verbreitung von HFT bei institutionellen Investoren behandelt. Anschließend werden die rechtlichen Vorschriften zur Kapitalanlage eines Versicherungsunternehmens ausgearbeitet, die im Versicherungsaufsichtsgesetz (VAG) festgehalten sind und durch mehrere Rundschreiben der Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin) konkretisiert werden. Hierzu gehören die allgemeinen Anlagegrundsätze nach § 54 Abs. 1 VAG, die Anlageverordnung (AnlV) und der Anlagekatalog nach § 2 Abs. 1 AnlV sowie die Vorschriften zum Treuhänder zur Überwachung des Sicherungsvermögens nach §§ 70 - 76 VAG. Eine Betrachtung nach Solvency II wird nicht vorgenommen. Es erfolgt eine Prüfung, ob der Einsatz von Hoch


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Product Details
  • ISBN-13: 9783346151650
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 32
  • Spine Width: 2 mm
  • Weight: 54 gr
  • ISBN-10: 3346151654
  • Publisher Date: 26 Mar 2020
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Sub Title: Aktueller Diskussionsstand und Ausblick
  • Width: 148 mm


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Rechtliche Limitationen des Einsatzes von High-Frequency Trading in der Versicherungswirtschaft: Aktueller Diskussionsstand und Ausblick
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