Assessment the use of electronic trading system on the increasing the trading volume of Tehran stock exchange by Fuzzy inference model

Subject Areas : Financial Knowledge of Securities Analysis

سینا نعمتی زاده ¹ , آرش بیدار ² , نادی علیزاده ³

1 - ندارد
2 - مسئول مکاتبات
3 - ندارد

Received: 2012-02-04 Accepted : 2012-05-23 Published : 2012-12-15

Keywords: online transaction systems, transaction’s volume, Fuzzy Inference System,

Abstract :

Global stock exchange markets, counter acceptance between firms in different markets,besides, increasing trading tools, brokers and also online trading ,make increase work hours atbig markets of the whole world .Today, it caused, stock exchanges by help of advancedtechnology, go to increasing meetings ,trading time, and probably 24-hours trading. Supplyingvaried financial markets in the country and trading in other countries’ stock exchange markets(online trading), make new choices for the investors; Inattention to international andenvironmental changes ruins Tehran Exchange of competition. Exchanges and brokers bydiversification trading performance methods try to informed their costumers’ demands in a bestway .The competition of demands procedure among different trading systems is so intensivethat make exchanges and online networks advance their demands performance systemsaccording to uniformity with current rules changes. Tehran Exchange follows increasingtrading and market’s value by using opportunities of introducing online trading systems(DMA) and more time for trading through welcoming to universal trends and adopting longterm guidelines .Otherwise, There would be the risk of lacking most of the market investorswho will choose another investment opportunities .In this research we studied six effectiveindexes of investors usage of online trading systems ,including :developing infrastructuralhardware (Hardware), security of online systems (Security), technology of softwaresystems(Technology),internet trading rules(Rules),acculturation of online purchasingstock(Culture) ,and training investors (Education), and their effectiveness on increasingtransaction size by using experts’ theories and gathering investors and experts opinions bydistribution of questionnaires in Tehran Stock Exchange Organization, and by helping fuzzyinference system, it explained condition and importance of each index on volume oftransaction.