Designing the Stock Trading Processes in the Proprietary Trading Department of a Securities Firm by Utilizing Six Sigma Method
| Autor: | Chien-Ting Lee, 李建霆 |
|---|---|
| Rok vydání: | 2005 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 93 The great success of GE’s launching Six Sigma Methodology on improving its operating efficiency and profits has resulted in the follow-up implement of worldwide enterprises. Recently, Taiwan joined WTO and promulgated Financial Share-Holding Act. The securities sector has being facing new pressure and challenge, especially, intensified by the confinement of the sectors’ business operation mainly in Taiwan market and by the adverse effects of the sectors’ price-cutting competition. As a result, the securities house has to put more emphasis on main streams of business to enhance its competitive advantage. The main purpose of this research is to use the Six Sigma method to evaluate the feasibility of constructing a new stock trading process by analyzing the core process of stock trading process in the Proprietary Trading Department of a securities house. Firstly, we exclude trader’s subjective judgment and use the prevailing indexes of technical analysis served as a framework to evaluate the process design with an eye to constructing a scientific as well as systematic decision making model. Then, we analyze the empirical operating benefits through testing of samples, from Taiwan 50 Exchange Traded Funds in two different periods, contemplating as well as reducing securities house’s operating risk and achieving the goal of diversifying profits. The empirical studies have two findings. First, when examining the trading performance of a specific company through testing of seven popular used indicators, including kd、rsi、wms%r、macd、mtm、mq and ma, we find that rsi is the important key factor for the process design of improving stock trading. The results display that the average rate of return is about 17.7% and suggest that it could be a profitable model for securities houses. Second, we conclude that Six Sigma method not only can suit the manufacturing industry well but also can be applied to financial institutions as well. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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