This chapter examines trading costs associated with buying and selling securities in organized exchanges such as the New York Stock Exchange. Costs are categorized as commission charges determined by the exchange and cost components of the bid‐ask spread determined by market participants. The bid‐ask spread consists of three main components: (1) order processing costs associated with the cost of providing liquidity, (2) inventory costs due to short‐term order imbalances, and (3) adverse selection costs related to the cost of trading with informed traders. Spreads and commission charges are currently at very low levels in developed markets and have led to a great expansion in algorithm trading and trading volume. Trading costs for emerging m...
This study compares bid-ask spreads for equity options in two market structures: the American Stock ...
Purpose – The purpose of this paper is to investigate how quotes originating via electronic communic...
This paper investigates whether, as a result of competition, certain explicit transaction costs (exe...
The purpose of this thesis is to test the received explanations of the determinants of bid/ask sprea...
This dissertation consists of three interrelated essays. The first essay focuses on the adverse sele...
We analyze the components of the bid-ask spread in the Athens Stock Exchange (ASE), which was recent...
This paper analyzes the components of the bid-ask spread in the limit-order book of the Tokyo Stock ...
This study models the bid-ask spread in financial markets as a function of asset price variability a...
This study models the bid-ask spread in financial markets as a function of asset price variability a...
Financial instruments are bought and sold at a financial market. Market makers at a financial market...
The presence of the bid-ask spread causes equilibrium prices to deviate from transaction prices. Mor...
Reported bid-ask spread decompositions vary in exchange structure, for example quotedriven, order-dr...
The need to understand and measure market maker bid/ask spreads is crucial in evaluating the merits ...
The need to understand and measure market maker bid/ask spreads is crucial in evaluating the merits ...
This paper provides new evidence on the impact of electronic trading on brokerage commissions by inv...
This study compares bid-ask spreads for equity options in two market structures: the American Stock ...
Purpose – The purpose of this paper is to investigate how quotes originating via electronic communic...
This paper investigates whether, as a result of competition, certain explicit transaction costs (exe...
The purpose of this thesis is to test the received explanations of the determinants of bid/ask sprea...
This dissertation consists of three interrelated essays. The first essay focuses on the adverse sele...
We analyze the components of the bid-ask spread in the Athens Stock Exchange (ASE), which was recent...
This paper analyzes the components of the bid-ask spread in the limit-order book of the Tokyo Stock ...
This study models the bid-ask spread in financial markets as a function of asset price variability a...
This study models the bid-ask spread in financial markets as a function of asset price variability a...
Financial instruments are bought and sold at a financial market. Market makers at a financial market...
The presence of the bid-ask spread causes equilibrium prices to deviate from transaction prices. Mor...
Reported bid-ask spread decompositions vary in exchange structure, for example quotedriven, order-dr...
The need to understand and measure market maker bid/ask spreads is crucial in evaluating the merits ...
The need to understand and measure market maker bid/ask spreads is crucial in evaluating the merits ...
This paper provides new evidence on the impact of electronic trading on brokerage commissions by inv...
This study compares bid-ask spreads for equity options in two market structures: the American Stock ...
Purpose – The purpose of this paper is to investigate how quotes originating via electronic communic...
This paper investigates whether, as a result of competition, certain explicit transaction costs (exe...