Competing on speed
We analyze trading speed and fragmentation in asset markets. In our model, trading venues make technological investments and compete for investors who choose where and how much to trade. Faster venues charge higher fees and attract speed-sensitive investors. Competition among venues increases invest...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2018
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/7028 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8027/viewcontent/2018_Pagnotta_Competing_on_Speed_pv.pdf |
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| Institution: | Singapore Management University |
| Language: | English |