Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality: Subsidizing Liquidity

[1]  Leslie M. Marx,et al.  Payments for Order Flow on Nasdaq , 1999 .

[2]  C. Holden,et al.  A simple model of payment for order flow, internalization, and total trading cost , 2001 .

[3]  Hong Liu,et al.  So What Orders Do Informed Traders Use? , 2004 .

[4]  Laura Cardella,et al.  Liquidity-based Trading Fees and Exchange Volume , 2015 .

[5]  Terrence Hendershott,et al.  Automation, Speed, and Stock Market Quality: The NYSE’s Hybrid , 2011 .

[6]  Eugene Kandel,et al.  The Effects of Transaction Costs on Stock Prices and Trading Volume , 1998 .

[7]  Ohad Kadan,et al.  Liquidity Cycles and Make/Take Fees in Electronic Markets , 2009 .

[8]  Katya Malinova,et al.  Informed Trading and Maker-Taker Fees in a Low-Latency Limit Order Market , 2013 .

[9]  S. B. Thompson.  Simple Formulas for Standard Errors that Cluster by Both Firm and Time , 2009 .

[10]  Mao Ye,et al.  What's Not There: Odd Lots and Market Data , 2014 .

[11]  Johannes A. Skjeltorp,et al.  Identifying Cross-Sided Liquidity Externalities , 2012 .

[12]  H. Stoll,et al.  Dealer versus auction markets: A paired comparison of execution costs on NASDAQ and the NYSE , 1996 .

[13]  Christine A. Parlour,et al.  Payment for Order Flow , 2001 .

[14]  Thierry Foucault,et al.  Trading Fees and Efficiency in Limit Order Markets , 2011 .

[15]  James P. Weston,et al.  Competition on the Nasdaq and the Impact of Recent Market Reforms , 2000 .

[16]  P. Schultz.  Who makes markets , 2003 .

[17]  Maureen O'Hara,et al.  The Making of a Dealer Market: From Entry to Equilibrium in the Trading of Nasdaq Stocks , 2002 .

[18]  Marco Lutat,et al.  The Effect of Maker-Taker Pricing on Market Liquidity in Electronic Trading Systems – Empirical Evidence from European Equity Trading , 2010 .

[19]  R. Davies,et al.  Using Matched Samples to Test for Differences in Trade Execution Costs , 2007 .

[20]  Douglas L. Miller,et al.  Robust Inference With Multiway Clustering , 2011 .

[21]  Andriy Shkilko,et al.  To Pay or Be Paid? The Impact of Taker Fees and Order Flow Inducements on Trading Costs in U.S. Options Markets , 2011 .