of the electronic trading systems implemented at the London Stock Exchange and London International Financial Futures …

2011 merger attempt between the London Stock Exchange and the Toronto Stock Exchange. The Canadian network is often …

This study examines whether systematic liquidity risk is priced on the London Stock Exchange (LSE). We use the … proportional quoted bid-ask spread, Amihud's (2002) market illiquidity ratio, and turnover rate as liquidity proxies. In contrast … to the US studies, we do not find evidence that systematic liquidity risk is priced on the LSE. …

Purpose – The purpose of this paper is to investigate the reaction of the London Stock Exchange to the announcement of … examines the London Stock Exchange industrial indices reactions to this announcement in July 2005. Design …

questions on the nature of private information, the impact on market liquidity, and the changing process of price discovery. We …

, though its volume is low. The relative contribution of a trading system to price discovery depends on liquidity, volatility … is large and liquidity is low. These findings provide important implications for the design of electronic markets for …

This study compares liquidity costs and other characteristics of electronic and open outcry hard red winter wheat … futures contracts traded on the Kansas City Board of Trade. Liquidity costs are considerably lower in the electronic market … than in the open outcry market. A new approach is used to estimate liquidity costs which eliminates bias resulting from …

This study compares liquidity costs of electronic and open-outcry wheat futures contracts traded side-by-side on the … Kansas City Board of Trade. Liquidity costs are considerably lower in the electronic market. Liquidity costs in the …. Price volatility and transaction size are positively related to liquidity costs, while a negative relation is found between …

, the impact on market liquidity, and the changing process of price discovery. We also outline potential microstructure …