The rise of fast trading: Curse or blessing for liquidity?
We study how market liquidity on Euronext has evolved with the rise of fast trading. We identify fast traders by directly measuring message traffic and the lifetime of orders for every individual market member on Euronext using their identification codes. We observe an overall improvement in terms o...
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| Format: | Article ou chapitre numérique |
| Sprog: | Français |
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2022
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| Online adgang: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
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cairn-FINA_PR_IFINAFinance https://shs.cairn.info/journal-finance-2022-3-page-119?lang=en https://doi.org/10.3917/fina.pr.i The rise of fast trading: Curse or blessing for liquidity? Desagre, ChristopheD’Hondt, CatherinePetitjean, Mikael2022 Euronextfast tadingliquiditymarket membersfre Finance | 43 | 3 | 2022-09-06 | p. 119-158 | 0752-6180 FINA_433100 We study how market liquidity on Euronext has evolved with the rise of fast trading. We identify fast traders by directly measuring message traffic and the lifetime of orders for every individual market member on Euronext using their identification codes. We observe an overall improvement in terms of liquidity between 2002 and 2006. However, the most exposed stocks to fast trading exhibit the weakest increase in liquidity and lose the liquidity advantage they had before the rise of fast trading.Cairn restricted access |
| language |
Français |
| format |
Article ou chapitre numérique |
| building |
0/Bibliothèque numérique/ 1/Bibliothèque numérique/Cairn/ |
| topic |
Euronext fast tading liquidity market members |
| spellingShingle |
Euronext fast tading liquidity market members Desagre, Christophe D’Hondt, Catherine Petitjean, Mikael The rise of fast trading: Curse or blessing for liquidity? |
| topic_facet |
Euronext fast tading liquidity market members |
| description |
We study how market liquidity on Euronext has evolved with the rise of fast trading. We identify fast traders by directly measuring message traffic and the lifetime of orders for every individual market member on Euronext using their identification codes. We observe an overall improvement in terms of liquidity between 2002 and 2006. However, the most exposed stocks to fast trading exhibit the weakest increase in liquidity and lose the liquidity advantage they had before the rise of fast trading. |
| author |
Desagre, Christophe D’Hondt, Catherine Petitjean, Mikael |
| author_facet |
Desagre, Christophe D’Hondt, Catherine Petitjean, Mikael |
| author_sort |
Desagre, Christophe |
| title |
The rise of fast trading: Curse or blessing for liquidity? |
| title_short |
The rise of fast trading: Curse or blessing for liquidity? |
| title_full |
The rise of fast trading: Curse or blessing for liquidity? |
| title_fullStr |
The rise of fast trading: Curse or blessing for liquidity? |
| title_full_unstemmed |
The rise of fast trading: Curse or blessing for liquidity? |
| title_sort |
rise of fast trading: curse or blessing for liquidity? |
| publishDate |
2022 |
| container_title |
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| container_issue |
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| url |
https://ezproxy.univ-orleans.fr/login?url=https://shs.cairn.info/journal-finance-2022-3-page-119?lang=en https://ezproxy.univ-orleans.fr/login?url=https://doi.org/10.3917/fina.pr.i |
| _version_ |
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