Retail Order Flow Segmentation

In August 2012, the New York Stock Exchange launched the Retail Liquidity Program (RLP), a new trading facility that enables participating organizations to quote dark limit orders available only to retail traders. The facility increased the information content of the order flow by distinguishing retail trades from relatively more informed trades. Stocks with substantial RLP activity experienced no material changes in relative bid-ask spreads, effective spreads, and price impacts, and had mildly decreased return autocorrelations

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Year of publication:	2018
Authors:	Garriott, Corey
Other Persons:	Walton, Adrian (contributor)
Publisher:	[2018]: [S.l.] : SSRN
Subject:	Einzelhandel \| Retail trade \| Marktsegmentierung \| Market segmentation \| Wertpapierhandel \| Securities trading

Extent:	1 Online-Ressource (23 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Trading, Vol. 13, No. 3, 2018 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 21, 2018 erstellt
Other identifiers:	10.2139/ssrn.2771299 [DOI]
Classification:	G20 - Financial Institutions and Services. General ; G14 - Information and Market Efficiency; Event Studies ; L10 - Market Structure, Firm Strategy, and Market Performance. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012936214