Competition for order flow and smart order routing systems

In this paper, the authors study the changes in liquidity following the introduction of a new electronic limit order market when, prior to its introduction, trading is centralized in a single limit order market. They also study how automation of routing decisions and trading fees affect the relative liquidity of rival markets.

MoreLess

Year of publication:	2006-01-01
Authors:	Foucault, Thierry ; Menkveld, Albert
Institutions:	HEC Paris (École des Hautes Études Commerciales)
Subject:	market fragmentation \| centralized limit order book \| smart routers \| trading fees \| trade-throughs

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Les Cahiers de Recherche.
Type of publication:	Book / Working Paper
Language:	Hungarian
Notes:	The text is part of a series Les Cahiers de Recherche - Groupe HEC Number 831 61 pages
Classification:	F02 - International Economic Order; Economic Integration and Globalization: General ; F12 - Models of Trade with Imperfect Competition and Scale Economies ; F18 - Trade and Environment
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005011691