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dc.contributor.authorJørgensen, Kjell
dc.contributor.authorSkjeltorp, Johannes A.
dc.contributor.authorØdegaard, Bernt Arne
dc.date.accessioned2018-03-08T09:50:34Z
dc.date.available2018-03-08T09:50:34Z
dc.date.created2018-02-14T14:50:12Z
dc.date.issued2018
dc.identifier.citationJournal of Financial Markets. 2018, 37(1), 1-16nb_NO
dc.identifier.issn1386-4181
dc.identifier.issn1878-576x
dc.identifier.urihttp://hdl.handle.net/11250/2489452
dc.descriptionThe accepted and peer reviewed manuscript to the articlenb_NO
dc.description.abstractWe investigate the effects of introducing a fee on excessive order-to-trade ratios (OTRs) on market quality at the Oslo Stock Exchange (OSE). We find that traders reacted to the regulation as measured OTRs fell. However, market quality, measured with depth, spreads, and realized volatility, remain largely unaffected. This result differs sharply from the experience in other markets, such as Italy and Canada, where similar regulatory changes have been accompanied by a worsening of liquidity. The unchanged market quality at the OSE is likely due to the different design of the regulation, which is tailored to encourage liquidity supply.nb_NO
dc.language.isoengnb_NO
dc.publisherElseviernb_NO
dc.titleThrottling hyperactive robots: Order-to-trade ratios at the Oslo Stock Exchangenb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.description.versionacceptedVersionnb_NO
dc.source.pagenumber1-16nb_NO
dc.source.volume37nb_NO
dc.source.journalJournal of Financial Marketsnb_NO
dc.source.issue1nb_NO
dc.identifier.doihttps://doi.org/10.1016/j.finmar.2017.09.001
dc.identifier.cristin1565230
dc.description.localcode1, Forfatterversjonnb_NO
cristin.unitcode158,1,0,0
cristin.unitnameInstitutt for finans
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode1


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