Evans, Martin D. D. (contributor); … - 2005
-term investors (e.g., mutual funds), and
international-trade-based (e.g., non-�nancial corporations); xit for i = 1;2;3. The … they are willing to trade,
and they initiate trade with each other. All non-dealer market participants are termed customers … opportunity to initiate trade with dealers at the prices they quote. The resulting pattern of trade
de�nes customer order �ow. In …