%PDF-1.3 1 0 obj << /Kids [ 4 0 R 5 0 R 6 0 R 7 0 R 8 0 R 9 0 R 10 0 R 11 0 R 12 0 R ] /Type /Pages /Count 9 >> endobj 2 0 obj << /Subject (Neural Information Processing Systems http\072\057\057nips\056cc\057) /Publisher (Curran Associates\054 Inc\056) /Language (en\055US) /Created (2013) /EventType (Oral) /Description-Abstract (We consider the design of strategies for \134emph\173market making\175 in a market like a stock\054 commodity\054 or currency exchange\056 In order to obtain profit guarantees for a market maker one typically requires very particular stochastic assumptions on the sequence of price fluctuations of the asset in question\056 We propose a class of spread\055based market making strategies whose performance can be controlled even under worst\055case \050adversarial\051 settings\056 We prove structural properties of these strategies which allows us to design a master algorithm which obtains low regret relative to the best such strategy in hindsight\056 We run a set of experiments showing favorable performance on real\055world price data\056) /Producer (PyPDF2) /Title (Adaptive Market Making via Online Learning) /Date (2013) /ModDate (D\07220141125131924\05508\04700\047) /Published (2013) /Type (Conference Proceedings) /firstpage (2058) /Book (Advances in Neural Information Processing Systems 26) /Description (Paper accepted and presented at the Neural Information Processing Systems Conference \050http\072\057\057nips\056cc\057\051) /Editors (C\056J\056C\056 Burges and L\056 Bottou and M\056 Welling and Z\056 Ghahramani and K\056Q\056 Weinberger) /Author (Jacob Abernethy\054 Satyen Kale) /lastpage (2066) >> endobj 3 0 obj << /Type /Catalog /Pages 1 0 R >> endobj 4 0 obj << /Parent 1 0 R /Contents 13 0 R /Resources 14 0 R /MediaBox [ 0 0 612 792 ] /Annots 72 0 R /Type /Page >> endobj 5 0 obj << /Parent 1 0 R /Contents 74 0 R /Resources 75 0 R /MediaBox [ 0 0 612 792 ] /Annots 113 0 R /Type /Page >> endobj 6 0 obj << /Parent 1 0 R /Contents 135 0 R /Resources 136 0 R /MediaBox [ 0 0 612 792 ] /Annots 226 0 R /Type /Page >> endobj 7 0 obj << /Parent 1 0 R /Contents 228 0 R /Resources 229 0 R /MediaBox [ 0 0 612 792 ] /Annots 320 0 R /Type /Page >> endobj 8 0 obj << /Parent 1 0 R /Contents 323 0 R /Resources 324 0 R /MediaBox [ 0 0 612 792 ] /Annots 427 0 R /Type /Page >> endobj 9 0 obj << /Parent 1 0 R /Contents 431 0 R /Resources 432 0 R /MediaBox [ 0 0 612 792 ] /Annots 528 0 R /Type /Page >> endobj 10 0 obj << /Parent 1 0 R /Contents 534 0 R /Resources 535 0 R /MediaBox [ 0 0 612 792 ] /Annots 625 0 R /Type /Page >> endobj 11 0 obj << /Parent 1 0 R /Contents 634 0 R /Resources 635 0 R /MediaBox [ 0 0 612 792 ] /Annots 754 0 R /Type /Page >> endobj 12 0 obj << /Parent 1 0 R /Contents 757 0 R /Type /Page /Resources 758 0 R /MediaBox [ 0 0 612 792 ] >> endobj 13 0 obj << /Length 4592 /Filter /FlateDecode >> stream xZr+T`bE$Uv #=L*[Wrν IJi!w?::%?p