systems in Europe. It investigates the relationship between the trading activity of a crossing network (CN) and the liquidity …

shares being used in arbitrage trades or by the indirect effect of ETF trading improving the liquidity of index stocks in the … way index traders distribute across index markets, with the ETF market absorbing the liquidity demand from some hedgers or …

This article examines how the introduction of an ETF replicating a stock index impacts on the liquidity of the … underlying stocks when the ETF market involves liquidity providers (LPs). We find that index stock spreads decline, relative to … those of non-index stocks, after the introduction of the ETF but this liquidity improvement is not driven by changes in …

This paper presents a study of intra-day patterns of stock market activity and introduces duration based activity …, transaction volumes and prices, and can be interpreted as liquidity measures. This approach allows us to highlight the intra …-day variations of liquidity, its costs and volatility, and to develop a liquidity based asset ordering. The extension to a …

Our study investigates by which channels IPO underpricing impacts post-listing liquidity. Using a sample of IPOs …, this underpricing still has a positive impact on aftermarket liquidity by a virtuous cycle related to analyst coverage. The …