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Competition among high-frequency traders, and market quality
Breckenfelder, Johannes - 2019
We study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market …-frequency competition, and contains an exogenous event - a tick size reform - which we use to disentangle the effects of the rising share of … high-frequency trading in the market from the effects of high-frequency competition. We find that when HFTs compete, their …
Persistent link: https://www.econbiz.de/10012016546
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Competing for dark trades
Irvine, Paul J.; Karmaziene, Egle - 2023
how the pecking order theory of trading actually functions. …
Persistent link: https://www.econbiz.de/10014249847
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Complete and Competitive Financial Markets in a Complex World
Cassese, Gianluca - 2020
We investigate the possibility of completing financial markets in a model with no exogenous probability measure and market imperfections. A necessary and sufficient condition is obtained for such an extension to be possible
Persistent link: https://www.econbiz.de/10012839757
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Competitiveness in the Ukrainian Stock Market and Local Crisis of 2013–2015
Plastun, Oleksiy - 2018
This paper investigates competitiveness in the Ukrainian stock market during local crisis of 2013–2015. The following hypothesis is tested: crisis decreases competitiveness in the stock market. The analysis is carried out for the most liquid stocks in the Ukrainian Exchange (UX) over the...
Persistent link: https://www.econbiz.de/10012920837
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Competitive Quote Flipping and Trade Clusters
Fishe, Raymond P.H. - 2020
liquidity replacement view …
Persistent link: https://www.econbiz.de/10012828205
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The Competitiveness of Central and Eastern European (CEE) Financial Markets
Wiśniewski, Piotr - 2017
The research seeks to gauge the global competitiveness of Central and Eastern European (CEE) financial markets. The assessment is made using quantitative and hybrid metrics of financial centre development while placing particular emphasis on competitiveness drivers relevant to the activity of...
Persistent link: https://www.econbiz.de/10012962637
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High-frequency trading competition
Brogaard, Jonathan; Garriott, Corey; Pomeranets, Anna - 2014
We analyze trading dynamics as successive high-frequency trading (HFT) firms begin to trade stocks in an equity market. Entrants compete with incumbents for volume, and there is crowding out. Earlier entry is associated with larger effects. After Passive HFT entry, incumbent spreads tighten....
Persistent link: https://www.econbiz.de/10010350498
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The Real Effects of Financial (Dis)Integration : A Multi-Country Equilibrium Analysis of Europe
Chakraborty, Indraneel - 2016
Using data from 15 European Union economies, we quantify the real effects of supply-side frictions due to the financial disintegration of European countries since the 2008 financial crisis. We develop a multi-country general equilibrium model with heterogeneous countries and destination-specific...
Persistent link: https://www.econbiz.de/10012997269
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Do we need a European 'National Market System'? Competition, Arbitrage, and Suboptimal Executions
Storkenmaier, Andreas - 2011
fraction of trades is executed at best available prices. Our results suggest that competition forces competing but disconnected …
Persistent link: https://www.econbiz.de/10013130193
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Strategic Insider Trading : Disguising Order Flows to Escape Trading Competition
Gu, Dingwei; Liu, Xin; Sun, Hanwen; Zhao, Huainan - 2021
potential order flow information leakage, insiders strategically disguise their order flows to escape trading competition. Our …
Persistent link: https://www.econbiz.de/10013244623