Trader Competition in Fragmented Markets: Liquidity Supply versus Picking-off Risk
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Citations
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Cited by:
- Daniel Chen & Darrell Duffie, 2020. "Market Fragmentation," NBER Working Papers 26828, National Bureau of Economic Research, Inc.
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Keywords
Fragmentation; Competition; Liquidity; Price Efficiency;JEL classification:
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CFN-2018-11-12 (Corporate Finance)
- NEP-MST-2018-11-12 (Market Microstructure)
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