Su, Emre; Tokmakcioglu, Kaya - In: Borsa Istanbul Review 21 (2021) 3, pp. 227-238
This paper compares performances of bid-ask spread measures and analyzes bond-level characteristics' effects on the bid-ask spread for Turkish sovereign bonds traded in Borsa Istanbul. We use intraday order data to establish a relative quoted bid-ask spread as a benchmark and compare bid-ask...