This article examines how the market quality of European cross-listed stocks is affected by the partial-day availability of close substitutes, i.e., shares of the same companies that are traded in their home markets but are not fully fungible with the cross-listed shares. Our findings suggest...

This paper examines whether investors care more about trading their exact quantity demands at some times than at others. Using a new data set of foreign-exchange transactions, I find that customers trade more precise quantities at quarter-end, as evidenced by less trade-size clustering....

This paper investigates the determinants of relative repo specialness between the most recently issued U.S. Treasury security and its immediate predecessor. I find that the relative specialness of the on-the-run increases as the next auction approaches, indicating that pre-auction positioning...