High-Frequency Traders (HFTs) are known to facilitate incorporating information into asset prices. Do they utilize aggregate market-wide information or idiosyncratic stock-specific information? In this paper, we exploit novel transaction-level data from the National Stock Exchange (India), a...

Present academic literature on HFTs considers them as the present-day de-facto market makers. We show that under favorable market conditions, HFT market-making activity grows with their overall participation in trades. But regulatory hurdles, in terms of penalty on high OTR (order-to-trade...

We study the personal loan segment of the consumer credit market using individual loan-level data covering fintech, non-banking financial companies, and traditional banks as lenders. We show that fintech lenders dominate the small-ticket loan and provide stiff competition to non-banking...

This paper documents the liquidity-supplying behavior of High-Frequency Traders (HFT) during the abrupt and sustained market decline led by the COVID-19 outbreak. The findings suggest that these endogenous liquidity providers reduce their supply of liquidity in times of sustained market stress...

This paper documents the liquidity-supplying behavior of High-Frequency Traders (HFT) during the abrupt and sustained market decline led by the Covid-19 outbreak. The findings suggest that these endogenous liquidity providers reduce their supply of liquidity in times of sustained market stress...

Purpose – It is now widely acknowledged that health care professionals on the front line of care delivery will often be among the first to whom patients or clients who have experienced abuse will present or disclose abuse in a clinical context. It is therefore of pivotal importance that all...