attempts to quantify the impact of STT imposition and subsequent revisions on volatility and trading volume during Oct 2003 …-July 2013. Empirical results show a mixed response of volatility and volume to changes in STT. Even though STT has …

. In this paper, we extend the literature on risk allocation games by incorporating liquidity considerations. A liquidity … policy specifies state-dependent liquidity requirements that a portfolio should obey. To comply with the liquidity policy, a … liquidity constraints is not straight- forward, since the presence of a liquidity policy leads to externalities. We argue that …

business cases, cover very different markets and products: a securitisation transaction in Germany, a loan guarantee in France …

decrease the rate at which prices change, yet they impair the risk sharing function and they decrease market liquidity in …

dissemination of ticker information is broader and more timely. -- Market data sales ; Latency ; Transparency ; Price discovery …

discuss the relations between the results obtained and the phenomenon of ”volatility-induced growth” in stationary markets. …