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Deutsche Rohstoff AG: Öl-Preis steigt, Produktion wird angekurbelt

Deutsche Rohstoff AG: Öl-Preis steigt, Produktion wird angekurbelt
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Developments In Group , German Raw Materials , Beginning Of The Year , Capital Market , Raw Materials , Further Contracts , Years Running , முன்னேற்றங்கள் இல் குழு , மூலதனம் சந்தை , ரா பொருட்கள் ,

How does competition among high-frequency traders affect market liquidity?


How does competition among high-frequency traders affect market liquidity?
When high-frequency trading firms compete, does stock market liquidity deteriorate? I argue that the answer is yes. High-frequency trading competition may impact stock market liquidity via two channels. First, more competition is accompanied by more high-frequency trading and larger trading volumes, which improve market liquidity. Second, more competition may mean that high-frequency traders adapt their trading strategies and engage in more speculative trades, which harms market liquidity. Since these two channels have the opposite effects on market liquidity, it is important to disentangle the effects of competition from those of a mere increase in the number/volume of high-frequency trading transactions. In the analysis, I aim to do precisely this, by using an exogenous event which changed the intensity of high-frequency competition for some stocks but not for others. I find that otherwise similar sto ....

Alberto Martin , Simone Manganelli , Developments In Group , Financial Research Division , European Central Bank , Stockholm Stock Exchange , Federation Of European Securities Exchanges , Research Bulletin , European Securities Exchanges , Quarterly Journal , Financial Markets , Financial Studies , Asset Pricing Studies , Johannes Breckenfelder , Senior Economist , Directorate General Research , European Securities , Markets Authority , ஆல்பர்டோ மார்டின் , முன்னேற்றங்கள் இல் குழு , நிதி ஆராய்ச்சி பிரிவு , ஐரோப்பிய மைய வங்கி , ஸ்டாக்‌ஹோல்ம் ஸ்டாக் பரிமாற்றம் , கூட்டமைப்பு ஆஃப் ஐரோப்பிய பத்திரங்கள் பரிமாற்றங்கள் , ஆராய்ச்சி புல்லட்டின் , ஐரோப்பிய பத்திரங்கள் பரிமாற்றங்கள் ,