Do dark pools harm price discovery?
H Zhu - The Review of Financial Studies, 2014 - academic.oup.com
Dark pools are equity trading systems that do not publicly display orders. Dark pools offer
potential price improvements but do not guarantee execution. Informed traders tend to trade …
potential price improvements but do not guarantee execution. Informed traders tend to trade …
[BOOK][B] Diving into dark pools
S Buti, B Rindi, IM Werner - 2010 - Citeseer
Diving Into Dark Pools* Page 1 Diving Into Dark Pools* Sabrina Buti† Barbara Rindi‡ and
Ingrid M. Werner§ Fisher College of Business The Ohio State University Date: November 17 …
Ingrid M. Werner§ Fisher College of Business The Ohio State University Date: November 17 …
Censored exploration and the dark pool problem
Dark pools are a recent type of stock exchange in which information about outstanding
orders is deliberately hidden in order to minimize the market impact of large-volume trades …
orders is deliberately hidden in order to minimize the market impact of large-volume trades …
Dark pool exclusivity matters
Recent dark pool proliferation has magnified regulatory and academic concerns about equal
access and market quality implications. Some dark pools, hoping to create an environment …
access and market quality implications. Some dark pools, hoping to create an environment …
Determinants of liquidity and execution probability in exchange operated dark pool: Evidence from the Australian Securities Exchange
WP He, A Lepone - Pacific-Basin Finance Journal, 2014 - Elsevier
This study investigates the determinants of liquidity and execution probability in an
exchange operated dark pool. We analyse a unique set of data collated from the Australian …
exchange operated dark pool. We analyse a unique set of data collated from the Australian …
Non-execution and market share of crossing networks
M Ye - Available at SSRN 1719016, 2010 - papers.ssrn.com
We examine the non-execution probability and market share of crossing networks (dark
pool) using SEC 605 data for NYSE and NASDAQ stocks. We find that crossing networks …
pool) using SEC 605 data for NYSE and NASDAQ stocks. We find that crossing networks …
Shedding light on dark liquidity pools
H Degryse, M Van Achter, G Wuyts - 2008 - papers.ssrn.com
This article reviews the recent developments on dark liquidity pools starting from the
theoretical and empirical academic literature. The number of dark liquidity pools as well as …
theoretical and empirical academic literature. The number of dark liquidity pools as well as …
A match in the dark: Understanding crossing network liquidity
S Ray - Available at SSRN 1535331, 2010 - papers.ssrn.com
I model the decision of whether or not to use a crossing network (CN) or a traditional quoting
exchange (QE) and derive hypotheses regarding the factors that affect this decision. I test …
exchange (QE) and derive hypotheses regarding the factors that affect this decision. I test …
Alternative Trading Systems in Europe: Trading Performance by European Venues Post-MiFID, 2010 Update
Y Brandes, I Domowitz - The Journal of Trading, 2011 - pm-research.com
The authors examine the execution efficiency of European trading venues following the
implementation of the Markets in Financial Instruments Directive (MiFID). The current study …
implementation of the Markets in Financial Instruments Directive (MiFID). The current study …
Equity Market Structure and the Persistence of Unsolved Problems: A Microstructure Perspective
RA Schwartz, J Ross… - The Journal of Portfolio …, 2022 - jpm.pm-research.com
This article presents a brief historical perspective on the evolution of equity market structure
and considers implications microstructure analysis has had for improving market structure …
and considers implications microstructure analysis has had for improving market structure …