Discussion  

Oleh:

Weaver, Daniel G.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 55 no. 4 (2000), page 1801-1806.
Topik: DISCUSSION; discussion
Fulltext: p 1801.pdf (44.5KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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I enjoyed reading this paper. It fills an important gap in the market microstructure literature. In recent years, the NYSE and nasdaq have debated the circumstances under which trading in a security would be halted. On the NYSE, the debate has centered on market wide trading halts and how to reopen trading after a halt. On nasdaq, discussions have occured as to whether trading should halt if market are crossed (i. e. the highest bid is greater that the lowest ask) or locked (i. e. the bid is equal to the ask). Understanding the mechanics of trading halts, including order submission strategies of market participants, and identifying which types of traders provide liquidity will provide important information for the ongoing debates. This paper provides a food description of the mechanics of trading halts, which most academics know very little about.

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