Information Linkages and Correlated Trading
نویسندگان
چکیده
منابع مشابه
Correlated Trading and Returns
A German broker’s clients place similar speculative trades and therefore tend to be on the same side of the market in a given stock during a given day, week, month, and quarter. Aggregate liquidity effects, short sale constraints, the systematic execution of limit orders (coordinated through price movements) or the correlated trading of other investors who pick off retail limit orders do not fu...
متن کاملInternational Emissions Trading Scheme and EUropean Emissions Trading Scheme : what linkages ?
Simultaneity between commitment periods (2008-2012) of International Emissions Trading (IET) scheme and EUropean Emissions Trading Scheme (EU-ETS) is likely to generate distortions in terms of burden’s distribution among sectors. There will be two levels of trading : a country and an entity level, which both need to be consistent with each other. Besides, features of these two “cap and trade" e...
متن کاملAlgorithmic Trading and Information
We examine algorithmic trades (AT) and their role in the price discovery process in the 30 DAX stocks on the Deutsche Boerse in January 2008. AT liquidity demand represents 52% of volume and AT supplies liquidity on 50% of volume. AT act strategically by monitoring the market for liquidity and deviations of price from fundamental value. AT consume liquidity when it is cheap and supply liquidity...
متن کاملInformation, trading, and volatility
We examine the effects of trading and information flows on the short-run behavior of stock prices by comparing the behavior of stock return volatility during trading and nontrading periods. We define nontrading periods as periods when exchanges and businesses are open but traders endogenously choose not to trade. After correcting for the bid/ask bounce and stickiness in quotes, we find that a l...
متن کاملCooperation through Information Trading Cooperation through Information Trading Cooperation through Information Trading
Employees frequently give technical information or advice to colleagues in other firms, including direct competitors. This paper addresses whether this information transfer is in the economic interests of the firms involved. It is hypothesized that employees trade information within the economic interests of their firms. Conditions are discussed in which information trading creates an economic ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.970070