-implied volatility, dealer funding costs and competition between dealers. Several of these variables are significant, but their … surprises, which suggests that private information does not hinder CDS liquidity. …

, dispersion in beliefs, and funding liquidity. We argue that stock market illiquidity is a timely variable that is related to … "right-to-quality" episodes and might contain information about expected future business conditions through funding liquidity …

We study the relevance of the cross-sided externality between liquidity makers and takers from the two-sided market … perspective. We use exogenous changes in the make/take fee structure, minimum tick-size and technological shocks for liquidity … takers and makers, as experiments to identify cross-sided complementarities between liquidity makers and takers in the U …

liquidity in the NASDAQ. In addition, overall market qualityimproves substantially when the flash functionality is introduced … informedtraders and fulfill their role as an advertisement of uninformed liquidity needs. They successfully attract responses from … liquidity providers immediately after the announcement isplaced, thus lowering the risk-bearing cost for the overall market. Our …

liquidity demander exploiting access to allmarkets by optimally splitting orders across markets. This paper seeks to test this …

faces competition from a slower but betteraccessible transport mode. To access the fast transport network individuals haveto … presence of competition the profit-maximizingand socially optimal decision would be to cluster the two stations. Bycontrast, in … the absence of competition both a profit-maximizing firm and a socialplanner would locate the two stations on opposite …