In the known history of mankind households dominated the economy. Both food production and industrial activities were carried out mainly in households, first of all by female work. In the early industrial development industrial activities and services have been separated from households in the...

In the known history of mankind households dominated the economy. Both food production and industrial activities were carried out mainly in households, first of all by female work. In the early industrial development industrial activities and services have been separated from households in the...

In this paper, the authors study the changes in liquidity following the introduction of a new electronic limit order market when, prior to its introduction, trading is centralized in a single limit order market. They also study how automation of routing decisions and trading fees affect the...