Competition among liquidity providers with access to high-frequency trading technology
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DOI: 10.1016/j.jfineco.2020.11.002
Abstract: We model endogenous technology adoption and competition among liquidity providers with access to High-Frequency Trading (HFT) technology. HFT technology provides speed and informational advantages. Information advantages may restore excessively toxic markets. Speed technology may reduce… read more here.
Keywords: providers access; liquidity; competition among; liquidity providers ... See more keywords