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Competition for Order Flow and Smart Order Routing Systems
7 references·16 citing·40 second hop
Competition for Order Flow and Smart Order Routing Systems (2006)Competition for Order Flow and Smart Orde…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…Liquidity Provision with Limit Orders and a Strategic Specialist (1997)Liquidity Provision with Limi…Is the Electronic Open Limit Order Book Inevitable? (1994)Is the Electronic Open Limit …Multimarket Trading and Market Liquidity (1991)Multimarket Trading and Marke…Trading Volume and Asset Liquidity (1989)Trading Volume and Asset Liqu…A Theory of Intraday Patterns: Volume and Price Variability (1988)A Theory of Intraday Patterns…Installed base and compatibility : innovation, product preannouncements and predation (1986)Installed base and compatibil…Do High-Frequency Traders Anticipate Buying and Selling Pressure? (2020)Do High-Frequency Traders Ant…Price Discovery without Trading: Evidence from Limit Orders (2019)Price Discovery without Tradi…The Economics of High-Frequency Trading: Taking Stock (2016)The Economics of High-Frequen…Can Brokers Have It All? On the Relation between Make‐Take Fees and Limit Order Execution Quality (2016)Can Brokers Have It All? On t…High-Frequency Trading and Market Performance (2015)High-Frequency Trading and Ma…Dark trading and price discovery (2015)Dark trading and price discov…Bank Bias in Europe: Effects on Systemic Risk and Growth (2015)Bank Bias in Europe: Effects …The Impact of Dark Trading and Visible Fragmentation on Market Quality (2014)The Impact of Dark Trading an…Optimal Portfolio Liquidation with Limit Orders (2012)Optimal Portfolio Liquidation…Liquidity Cycles and Make/Take Fees in Electronic Markets (2012)Liquidity Cycles and Make/Tak…Financial Markets and Institutions (2012)Financial Markets and Institu…Middlemen in Limit Order Markets (2010)Middlemen in Limit Order Mark…Algorithmic Trading and Information (2009)Algorithmic Trading and Infor…Limit Order Markets: A Survey (2008)Limit Order Markets: A SurveyDynamic order submission strategies with competition between a dealer market and a crossing network☆ (2008)Dynamic order submission stra…Dynamic Order Submission Strategies with Competition between a Dealer Market and a Crossing Network (2007)Dynamic Order Submission Stra…Clio and the economics of QWERTY (1985)Standardization, Compatibility, and Innovation (1985)First-mover advantages (1988)Competing Technologies, Increasing Returns, and Lock-In by Historical Events (1989)General purpose technologies ‘Engines of growth’? (1995)Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Continuous Auctions and Insider Trading (1985)Asset pricing and the bid-ask spread (1986)Trade Execution Costs and Market Quality after Decimalization (2003)The “make or take” decision in an electronic market: Evidence on the evolution of liquidity (2004)Market microstructure: A survey of microfoundations, empirical results, and policy implications (2005)Transmission of Volatility between Stock Markets (1990)Intraday Price Formation in U.S. Equity Index Markets (2003)Is market fragmentation harming market quality? (2011)A Theory of Auctions and Competitive Bidding (1982)Order flow composition and trading costs in a dynamic limit order market (1999)Presidential Address: Friction (2000)The High-Frequency Trading Arms Race: Frequent Batch Auctions as a Market Design Response (2013)A Subordinated Stochastic Process Model with Finite Variance for Speculative Prices (1973)ARCH modeling in finance (1992)Investor Psychology and Security Market Under‐ and Overreactions (1998)Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case (1969)High-Frequency Trading around Large Institutional Orders (2015)Need for Speed? Exchange Latency and Liquidity (2017)Measuring the Information Content of Stock Trades (1991)The Competitive Landscape of High-Frequency Trading Firms (2017)Macroeconomic Attention and Announcement Risk Premia (2022)Risk, Return, and Equilibrium: Empirical Tests (1973)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)Financial Dependence and Growth (1996)Credit Cycles (1997)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Credit booms and macrofinancial stability (2016)Targeted monetary policy and bank lending behavior (2021)Climate policy uncertainty and risks taken by the bank: Evidence from China (2023)The Survival of Noise Traders in Financial Markets (1991)
this work references cited by second hop

References

  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 1988A Theory of Intraday Patterns: Volume and Price Variability3,120 cited
  • 1986Installed base and compatibility : innovation, product preannouncements and predation1,529 cited
  • 1994Is the Electronic Open Limit Order Book Inevitable?996 cited
  • 1989Trading Volume and Asset Liquidity628 cited
  • 1991Multimarket Trading and Market Liquidity597 cited
  • 1997Liquidity Provision with Limit Orders and a Strategic Specialist518 cited

Cited by

  • 2016The Economics of High-Frequency Trading: Taking Stock294 cited
  • 2019Price Discovery without Trading: Evidence from Limit Orders274 cited
  • 2015Bank Bias in Europe: Effects on Systemic Risk and Growth245 cited
  • 2010Middlemen in Limit Order Markets229 cited
  • 2020Do High-Frequency Traders Anticipate Buying and Selling Pressure?221 cited
  • 2008Limit Order Markets: A Survey202 cited
  • 2015Dark trading and price discovery202 cited
  • 2014The Impact of Dark Trading and Visible Fragmentation on Market Quality201 cited

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2012
Liquidity Cycles and Make/Take Fees in Electronic Markets
200 cited
  • 2015High-Frequency Trading and Market Performance197 cited
  • 2009Algorithmic Trading and Information184 cited
  • 2012Financial Markets and Institutions174 cited
  • 2016Can Brokers Have It All? On the Relation between Make‐Take Fees and Limit Order Execution Quality167 cited
  • 2008Dynamic order submission strategies with competition between a dealer market and a crossing network☆162 cited
  • 2012Optimal Portfolio Liquidation with Limit Orders155 cited
  • 2007Dynamic Order Submission Strategies with Competition between a Dealer Market and a Crossing Network150 cited