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Informed Traders as Liquidity Providers
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Alexandra Hachmeister’s thesis empirically analyzes and positively answers the question whether informed traders provide liquidity in an open limit order book
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The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic
Trading and Electronic Markets: What Investment Professionals Need to Know
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The true meaning of investment discipline is to trade only when you rationally expect that you will achieve your desired objective. Accordingly, managers must t
Market Liquidity
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"The process by which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical
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The widespread availability of high-quality, high-frequency data has revolutionised the study of financial markets. By describing not only asset prices, but als