search query: @indexterm financial market trading / total: 54
reference: 15 / 54
| Author: | Parlour, C. A. Seppi, D. J. |
| Title: | Liquidity-based competition for order flow |
| Journal: | Review of Financial Studies
2003 : SUMMER, VOL. 16:2, p. 301-343 |
| Index terms: | Liquidity Competition Financial market trading |
| Language: | eng |
| Abstract: | The authors present a microstructure model of competition for order flow between exchanges based on liquidity provision. They find that neither a pure limit order market nor a hybrid specialist/limit order market structure is competition-proof. They also show the possible coexistence of competing markets. |
SCIMA