Derksen, Mike; Kleijn, Bas; De Vilder, Robin - 2022
European closing auction volumes increased heavily over the past years, in particular sincethe introduction of MiFID II … in 2018. We show that this increase in closing auction volumesince 2018 is driven by an increase in limit order volume … investingis the main driver of increased closing auction volumes. Instead, our results suggest thatMiFID II regulations have …