Purpose – The purpose of this paper is to present new empirical evidence on global trends in equity‐related transaction costs and trading volume, as well as to highlight recent research in international market microstructure. Design/methodology/approach – Estimates of brokerage...

Purpose – The purpose of this paper is to investigate the cross‐sectional determinants of the role of the underwriter in aftermarket price discovery. Design/methodology/approach – The paper estimates Gonzalo‐Granger common factor weights across underwriter and non‐underwriter execution...

Purpose – The purpose of this paper is to critically evaluate the different market‐making systems found in most developed capital markets and to provide guidance to emerging market regulators for a possible implementation of such a system. Design/methodology/approach – The paper looks...

Purpose – The purpose of this paper is to investigate how quotes originating via electronic communication networks (ECN)s affect trading costs. Design/methodology/approach – In order to investigate the relations between trading costs and quotation venue, the bid‐ask spread is decomposed...

Purpose – The purpose of this paper is to examine the change in speed of dissemination of order flow information on stock volatility of return in 79 traded companies at the Cairo and Alexandria Stock Exchange (CASE). Design/methodology/approach – The paper examines the interaction of...

Purpose – The purpose of this paper is to investigate the short‐run return and volatility spill‐overs across three major international copper futures markets: London Metal Exchange (LME), New York Mercantile Exchange (NYMEX), and Shanghai Futures Exchange (SHFE)....

Purpose – The purpose of this paper is to present new empirical evidence on global trends in equity-related transaction costs and trading volume, as well as to highlight recent research in international market microstructure. Design/methodology/approach – Estimates of brokerage commissions,...