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liquidity, especially for stocks with small market capitalization,high volatility and no listed options; (ii) slowed down price …
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Dealers are suppliers of liquidity; in this respect their role is similar to that played by speculators in auction …
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After the COVID-19 crisis struck, equity prices abruptly plunged across the world. The clear prospect of an almost unprecedented decrease in supply and demand, coupled with extreme uncertainty about the longer-term prospects for the economy worldwide, justified the price adjustments. Yet, in...
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