Hidden Orders and High-Frequency Trading Shaping Market Liquidity and Prices.
The article explores how hidden orders and High-Frequency Trading impact financial markets. These practices, which make up a significant portion of market activity, raise concerns about transparency and fairness. By reviewing existing literature, the paper sheds light on the motivations and effects of hidden orders and HFT. Limited empirical research, mainly from the US market, highlights the need for further investigation into this important topic.