security is added, the liquidity of the non-market asset is still a decreasing function of volatility and an increasing …Garbade and Silber (1979) demonstrate that an asset will be liquid if it has (1) low price volatility and (2) a large … number of public investors who trade it. Although these results match nicely with common notions of liquidity, one key …

benefits liquidity-consuming customers, as dealers penalize liquidity takers more than the electronic trading channel. Contrary … to expectations, at the onset of the Covid-19 crisis the costs for liquidity takers selling bonds electronically inverted … transparent order book. Volumes in electronic C-to-C trading are more driven by orders wherein the liquidity-consuming party is …

This paper considers the growth of dark pools: trading venues for equities without pre-trade transparency. It first … adversely affect volatility in stock markets. …

I assess the impact of increasing the tick size on stock liquidity and trading volume in illiquid stocks. Using a …