Discretionary liquidity trading, information production and market efficiency
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DOI: 10.1016/j.frl.2019.09.014
Abstract: Abstract We analyze the professionals’ strategies of information production and the consequent market efficiency in the presence of discretionary liquidity trading. A unique equilibrium exists where only parts of discretionary liquidity traders can satisfy their… read more here.
Keywords: liquidity; information; discretionary liquidity; market ... See more keywords