liquidity. The findings show a positive and significant relation between retail investors' trading and stock market liquidity … trading activity tend to trade when liquidity is higher, the frequency of their arrival to the market is not affected by the … level of liquidity, and retail investors are willing to trade at a lower liquidity level as sellers than as buyers. Moreover …

Whether proprietary traders provide or take liquidity, and how their behavior evolves over the business cycle and … traders concentrate their trades in large and liquid stocks, but even in these, their liquidity provision is minimal. When … intermediary balance sheets are weak, proprietary traders do not provide any liquidity. Furthermore, proprietary traders do not …

stocks controlling for liquidity. For a given stock, dark pool activity is significantly higher on days with high share …

-to-market values. The AP’s costs of handling creations/redemptions are paid by liquidity-demanding ETF investors via premiums …

Using a recent pilot program as an exogenous shock to hidden liquidity, we show that hidden liquidity has significant … other stock attributes. Spreads, depths, trading volume, and trade size increase with hidden liquidity. The extent of … informed trading and the price impact of a trade also increase with hidden liquidity. Traders use more inside-the-quote limit …

changes carries important information about liquidity demand in the market. From this distribution of trader position …-changes, we construct a marketwide measure for intraday liquidity demand that does not necessarily depend on aggressive trading …. Using a rich regulatory dataset on S&P 500 E-mini futures and 10-year Treasury futures markets, we show that this liquidity …

liquidity by quickly turning stocks into cash. We propose a trading model in which these two roles are endogenously related …: more intensive use of stocks for liquidity affects both the information and the noise about fundamentals contained in … banking system has trouble providing liquidity. We incorporate this module into a dynamic general equilibrium model to study …