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Competition among high-frequency traders, and market quality
Breckenfelder, Johannes - 2019
We study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market …-frequency competition, and contains an exogenous event - a tick size reform - which we use to disentangle the effects of the rising share of … high-frequency trading in the market from the effects of high-frequency competition. We find that when HFTs compete, their …
Persistent link: https://www.econbiz.de/10012016546
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Competition Among High-Frequency Traders, and Market Quality
Breckenfelder, Johannes - 2019
We study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market …-frequency competition, and contains an exogenous event - a tick size reform - which we use to disentangle the effects of the rising share of … high-frequency trading in the market from the effects of high-frequency competition. We find that when HFTs compete, their …
Persistent link: https://www.econbiz.de/10012868588
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Competition among High-Frequency Traders, and Market Quality
Breckenfelder, Johannes - 2020
I study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market …-frequency competition, and contains an exogenous event - a tick size reform - which I use to separate the effects of high-frequency trading … competition from the effects of the rising share of high-frequency trading in the market. I find that when HFTs compete, their …
Persistent link: https://www.econbiz.de/10012857042
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Competition among high-frequency traders and market quality
Breckenfelder, Johannes - In: Journal of economic dynamics & control 166 (2024), pp. 1-22
Persistent link: https://www.econbiz.de/10015051273
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Market Microstructure and the Risks of High-Frequency Trading
Aldridge, Irene - 2013
The current research assesses the risks commonly attributed to the presence of HFT in the context of different market structures deployed by the U.S. exchanges. In particular, we find that, by design, the so-called “normal” exchanges have the lowest market quality, including the highest...
Persistent link: https://www.econbiz.de/10013079007
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Computerized and High-Frequency Trading
Goldstein, Michael A. - 2014
The use of computers to execute trades, often with very low latency, has increased over time, resulting in a variety of computer algorithms executing electronically targeted trading strategies at high speed. We describe the evolution of increasingly fast automated trading over the past decade...
Persistent link: https://www.econbiz.de/10013060754
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Central Exchanges for Government Bonds? Evidence during COVID-19
Kutai, Ari; Nathan, Daniel; Wittwer, Milena - 2021
In March 2020, government bond markets experienced severe illiquidity. Since then, regulators debate market reforms. One way to enhance liquidity could be to let government bonds, like stocks, be traded on central exchanges. We assess this reform with price data of the U.S, U.K., German,...
Persistent link: https://www.econbiz.de/10013219025
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Competing for dark trades
Irvine, Paul J.; Karmaziene, Egle - 2023
We use recent European restrictions to evaluate how traders substitute across available dark pools. Our findings suggest that restricting dark trading at the most prominent platform has a detrimental effect on dark trading activity. Annual dark trading in a restricted stock decreases by more...
Persistent link: https://www.econbiz.de/10014249847
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The labour market: institutions and reforms Summary of the 2nd labour market conference organised by the Aix-Marseille School of Economics and the Banque de France on 16 and 17 Dec...
In: Quarterly selection of articles - Bulletin de la Banque … (2014) 33, pp. 39-42
The Aix-Marseille School of Economics (AMSE) and the Banque de France have organised their second labour market conference, bringing together academics and representatives of international organisations and central banks. Discussions focused on the linkages between the housing and labour...
Persistent link: https://www.econbiz.de/10010815930
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The labour market: institutions and reforms Summary of the 2nd labour market conference organised by the Aix-Marseille School of Economics and the Banque de France on 16 and 17 Dec...
In: Quarterly selection of articles - Bulletin de la Banque … (2014) 33, pp. 39-42
The Aix-Marseille School of Economics (AMSE) and the Banque de France have organised their second labour market conference, bringing together academics and representatives of international organisations and central banks. Discussions focused on the linkages between the housing and labour...
Persistent link: https://www.econbiz.de/10011118432