Reiss, Peter C. (contributor); Werner, Ingrid M. (contributor) - 2003 - [Elektronische Ressource]
.g.,
Foucault, Moinas, and Theissen (2003)). The evidence is so far mixed. Some studies
find that anonymity and/or a lack of … transparency can enhance liquidity at the ex-
pense of the informativeness of prices. Other studies conclude that anonymity and … empirical studies compare different market designs,
they do not study what happens when traders can choose which trading system …