scholarly journals High Frequency Trading and Price Discovery

2012 ◽  
Author(s):  
Terrence Hendershott ◽  
Ryan Riordan
Keyword(s):  
High Frequency ◽  
Price Discovery ◽  
High Frequency Trading

The implications of high-frequency trading on market efficiency and price discovery

2014 ◽  
Vol 21 (16) ◽  
pp. 1148-1151 ◽  
Author(s):  
Viktor Manahov ◽  
Robert Hudson
Keyword(s):  
Market Efficiency ◽  
High Frequency ◽  
Price Discovery ◽  
High Frequency Trading

scholarly journals High frequency trading, price discovery and market efficiency in the FTSE100

2019 ◽  
Vol 181 ◽  
pp. 174-177 ◽  
Author(s):  
Vitor Leone ◽  
Frank Kwabi
Keyword(s):  
Market Efficiency ◽  
High Frequency ◽  
Price Discovery ◽  
High Frequency Trading

scholarly journals High Frequency Trading and Price Discovery

2013 ◽  
Author(s):  
Jonathan Brogaard ◽  
Terrence J. Hendershott ◽  
Ryan Riordan
Keyword(s):  
High Frequency ◽  
Price Discovery ◽  
High Frequency Trading

scholarly journals Price discovery and the cross-section of high-frequency trading

2016 ◽  
Vol 30 ◽  
pp. 54-77 ◽  
Author(s):  
Evangelos Benos ◽  
Satchit Sagade
Keyword(s):  
Cross Section ◽  
High Frequency ◽  
Price Discovery ◽  
High Frequency Trading ◽  
The Cross

scholarly journals The Mysterious Ethics of High-Frequency Trading

2016 ◽  
Vol 26 (1) ◽  
pp. 1-22 ◽  
Author(s):  
Ricky Cooper ◽  
Michael Davis ◽  
Ben Van Vliet
Keyword(s):  
Moral Hazard ◽  
Financial Markets ◽  
Information Asymmetry ◽  
High Frequency ◽  
Price Discovery ◽  
Recent Trend ◽  
Trading Strategies ◽  
High Frequency Trading

ABSTRACT:The ethics of high frequency trading are obscure, due in part to the complexity of the practice. This article contributes to the existing literature of ethics in financial markets by examining a recent trend in regulation in high frequency trading, the prohibition of deception. We argue that in the financial markets almost any regulation, other than the most basic, tends to create a moral hazard and increase information asymmetry. Since the market’s job is, at least in part, price discovery, we argue that simplicity of regulation and restraint in regulation are virtues to a greater extent than in other areas of finance. This article proposes criteria for determining which high-frequency trading strategies should be regulated.

COMMENTARY: A Retrospective Look: Phantom Liquidity and High-Frequency Quoting

2018 ◽  
Keyword(s):  
High Frequency ◽  
Lower Cost ◽  
Price Discovery ◽  
High Frequency Trading ◽  
Limit Order ◽  
Market Participants ◽  
Liquidity Provision

In this paper we take a retrospective look at our paper “Phantom Liquidity and High-Frequency Quoting” and discuss the context of the research in light of our broader inquiry into the nature of the high-frequency trading industry. The data presented in this paper appear to show that limit order cancellations of high-frequency traders are associated with price discovery and liquidity provision, rather than some manner of systematic taking advantage of other market participants. These firms are acting as rational, profit-seeking businesses, and we believe time has shown this view to be correct. In the years since publication, HFT has matured, and consolidated into fewer, lower-cost providers of efficiency and liquidity services, much like we would expect in any other industry.

High-Frequency Trading and Price Discovery

CFA Digest ◽  
2015 ◽  
Vol 45 (4) ◽  
Author(s):  
Clifford S. Ang
Keyword(s):  
High Frequency ◽  
Price Discovery ◽  
High Frequency Trading

scholarly journals High-Frequency Trading and Price Discovery

2014 ◽  
Vol 27 (8) ◽  
pp. 2267-2306 ◽  
Author(s):  
Jonathan Brogaard ◽  
Terrence Hendershott ◽  
Ryan Riordan
Keyword(s):  
High Frequency ◽  
Price Discovery ◽  
High Frequency Trading
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