Science and Engineering Ethics 19 (3):851-874 (2013)

Authors
Michael Davis
State University of New York at Buffalo
Abstract
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
Keywords High-frequency trading  Automation  Ethics  Quality management  Engineering
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DOI 10.1007/s11948-012-9412-5
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References found in this work BETA

The Challenge of Ethical Behavior in Organizations.Ronald R. Sims - 1992 - Journal of Business Ethics 11 (7):505 - 513.
The Institutionalization of Organizational Ethics.Ronald R. Sims - 1991 - Journal of Business Ethics 10 (7):493 - 506.

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