برچسب: Upstairs Market
5 / 0
Bessembinder And Venkataraman-Does An Electronic Stock Exchange Need An Upstairs Market
We examine block trades on the Paris Bourse to test several theoretical predictions regarding upstairs trading, and exploit cross-sectional variation in “crossing rules” on the Paris Bourse to provide evidence on their relevance. Paris provides an excellent setting to test the implications of upstairs intermediation models, because its electronic limit order market closely resembles […]