this switch to anonymity on market liquidity and the informational content of the limit order book. Our empirical analysis … information on future volatility is public, the informational content of the bid-ask spread and market liquidity are identical in … anonymity alters the informational content of the bid-ask spread and market liquidity. For our sample stocks, we find that the …

and market liquidity are different in each market design. We test these predictions using a natural experiment. As of …

market liquidity are different in each market design. We test these predictions using a natural experiment. As of April 23 …

We analyse the effect of concealing limit order traders’ identities on market liquidity. We develop a model in which … cost of liquidity provision were large when indeed it is small. This bluffing strategy is less effective when traders … anonymous market. For this reason, concealing limit order traders’ IDs affects market liquidity in our model. We test this …

this switch to anonymity on market liquidity and the informational content of the limit order book. Our empirical analysis … information on future volatility is public, the informational content of the bid-ask spread and market liquidity are identical in … anonymity alters the informational content of the bid-ask spread and market liquidity. For our sample stocks, we find that the …

(resp. low). However the quality of this signal and market liquidity are different in each market design. We test these …

Order Trading ; Anonymity ; Transparency ; Liquidity ; Volatility Forecasts … this switch to anonymity on market liquidity and the informational content of the limit order book. Our empirical analysis … information on future volatility is public, the informational content of the bid-ask spread and market liquidity are identical in …

We show that low-frequency measures of cryptocurrency liquidity perform adequately in describing high-frequency actual … liquidity. We calculate benchmark measures from high-frequency order book data and document the performance of low … frequency, exchange, benchmark measure, and cryptocurrency. It also performs well during high and low liquidity and volatility …

design features, such as minimum tick size, immediacy and anonymity; market conditions, such as liquidity and volatility; and …

design features, such as minimum tick size, immediacy and anonymity; market conditions, such as liquidity and volatility; and …