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centralized limit order book
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market fragmentation
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smart routers
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trade-throughs
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trading fees
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International journal of networking and virtual organisations : IJNVO
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Competition for Order Flow and Smart Order Routing Systems
Foucault, Thierry
;
Menkveld, Albert J.
-
C.E.P.R. Discussion Papers
-
2006
increases with the level of automation for routing decisions (the proportion of 'smart
routers
'). We test these predictions by …
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