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Improved Auction Price Mechanism for Electronic Security Trading Platform
Li, Xi Hao - 2012
By reviewing the current Xetra auction price mechanism and analyzing its economic properties, we discover that Xetra … auction price is generically non market-clearing and that only limit prices are considered as Xetra auction price, which … prevents a market-clearing price but not a limit price from being Xetra auction price even when this situation exists in the …
Persistent link: https://www.econbiz.de/10013115759
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On frequent batch auctions for stocks
Jagannathan, Ravi - 2019
Persistent link: https://www.econbiz.de/10012128869
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The Market Quality Effects of Sub-Second Frequent Batch Auctions : Evidence from Dark Trading Restrictions
Zhang, Zeyu; Ibikunle, Gbenga - 2022
Recent European regulatory restrictions on dark trading induced an increase in sub-second frequent batch/periodic auctions (PA). We exploit this development to investigate the effects of PA on market quality. The restrictions are linked to an observable increase in PA and an economically...
Persistent link: https://www.econbiz.de/10014238962
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The Market Quality Effects of Sub-Second Frequent Batch Auctions : Evidence from Dark Trading Restrictions
Zhang, Zeyu; Ibikunle, Gbenga - 2022
Recent European regulatory restrictions on dark trading induced an increase in sub-second frequent batch/periodic auctions (PA). We exploit this development to investigate the effects of PA on market quality. The restrictions are linked to an observable increase in PA and an economically...
Persistent link: https://www.econbiz.de/10013403046
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Liquidity risk, speculative trade, and the optimal latency of financial markets : conference paper
Fricke, Daniel; Gerig, Austin - 2014
Garbade and Silber (1979) demonstrate that an asset will be liquid if it has (1) low price volatility and (2) a large number of public investors who trade it. Although these results match nicely with common notions of liquidity, one key element is missing: liquidity also depends on (3) an asset...
Persistent link: https://www.econbiz.de/10010484462
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When to Introduce Electronic Trading Platforms in Over-the-Counter Markets?
Vogel, Sebastian - 2019
I study a hybrid over-the-counter (OTC) market structure in which traders have the choice of obtaining an asset from dealers either in a bilateral market or on an electronic trading platform. In a hybrid market (HM), turnover is higher and traders are better off than in a pure bilateral market...
Persistent link: https://www.econbiz.de/10012902468
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Electronic Market Makers, Trader Anonymity and Market Fragility
Raman, Vikas - 2014
We investigate empirically the impact of electronic market-makers on the reliability and the consistency with which financial markets provide transactional liquidity services. Our analysis is based on proprietary intraday data from U.S. futures markets. We document results of considerable...
Persistent link: https://www.econbiz.de/10013053087
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An Analysis of Pricing Models in the Electronic Book Market
Hao, Lin - 2014
In this paper, we develop a game theoretic model to study the pricing of e-books and e-readers under two pricing models: the wholesale and the agency models. We analyze pricing strategies for a publisher and a retailer. We identify the complementary relationship between e-books and e-reader as...
Persistent link: https://www.econbiz.de/10013061403
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Von Konsumenten wahrgenommene Risiken und Einflussfaktoren bei Onlinekäufen und deren Auswirkungen auf die Verkaufspreise
Lieser, Daniel - 2007
Persistent link: https://www.econbiz.de/10003799649
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Internet auctions with many traders
Peters, Michael (contributor); Severinov, Sergei (contributor) - 2001 - [Elektronische Ressource], rev
Persistent link: https://www.econbiz.de/10001606781