Economics, Econometrics and Finance
8 years ago

Trading system choice impacts pricing and liquidity in JASDAQ stock market.

RePEc: Research Papers in Economics
Market Microstructure and Spread Pattern in the JASDAQ Market
Jun Uno, Takeshi Shimatani, Tokiko Shimizu, Sachiko Mannen

Paper Summary

The article explores how different trading systems in the JASDAQ market impact stock pricing and liquidity. By analyzing spread patterns, the researchers investigate how the order-driven and market-maker systems influence price formation for listed stocks.

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