Effet des Modes de Négociation sur les Echanges

Gaelle Le Fol and Christian Gourieroux
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Christian Gourieroux: CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique

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Abstract: The trading systems that are used on financial markets differ in terms of matching procedures, selected norms to write contracts, existence or not of intermediaries to ensure liquidity, market transparency ... We are interested in measuring the direct effect on market specifics of a modification of the matching procedure, namely the matching frequency and the choice of a unique or multiple prices for the contracts concluded simultaneously.

Keywords: Market Microstructure; Matching procedures; Market quality; Microstructure des marchés; Appariement des ordres; Qualité des marchés (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (3)

Published in Revue Economique, 1998, 49 (3), pp.795-808

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Journal Article: Effet des modes de négociation sur les échanges (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00536273

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