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| Author: | Christie, W.G. Corwin, S.A. Harris, J.H. |
| Title: | Nasdaq trading halts: the impact of market mechanisms on prices, trading activity, and execution costs |
| Journal: | Journal of Finance
2002 : JUN, VOL. 57:3, p. 1443-1478 |
| Index terms: | PRICES TRADING TRANSACTION COSTS |
| Freeterms: | MARKET MECHANISMS |
| Language: | eng |
| Abstract: | The authors study the effects of alternative halt and reopening procedures on prices, transaction costs, and trading activity for a sample of news-related trading halts on Nasdaq. For intraday halts that reopen after only a five-minute quotation period, inside quoted spreads more than double following halts and volatility increases to more than nine times normal levels. |
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