The movement of stock market is the result of all industry participants' joint action. In order to predict the stock market's movement, we need to understand the principle of each major participant.
Macro structure of stock market:
The stock market industry chain is relative long which includes:
1.Regulators:The aim of regulator is to protect investor and maintain the fairness and efficiency of the overall market. SEC may investigateany individual or legal entity for their wrong doing. The individual or entity being investigated would be tagged untrusted one.
2.Exchanges:The aim of exchange is to provide the most efficient and transparent trading platform for all participants. Exchange may list ordelist any legal entity to provide best trading experience and eliminate potential risk for investors. Exchange is a profit organization charging listing fee yearly.
3.Exchange members:Exchange members is the entity registered with Exchange and get direct access to exchange with low fee.
4.Brokers
5.Listed companies
6.Hardware provider
7.Software provider
8.Custodian provider
9.Credit provider
10.Hedge fund
11.Long only Fund
12.Mutual fund
13.ETF fund
14.Macro Fund
15.High Frequency Fund
16.Public Fund
17.Private Fund
18.Inside Traders
19.Retail trader
Micro structure
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