measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price … consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize …

The purpose of this paper is to investigate the volatility impacts of the suspension of a call auction system by the … higher during the auction period, and we do not find any evidence that supports the foreseen benefits of auction frameworks … microstructure features when formulating auction protocols, since the latter may compromise auction efficacy …