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dc.contributor.authorD'Souza, Chrisen_US
dc.date.accessioned2011-12-15T12:56:48Z-
dc.date.available2011-12-15T12:56:48Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/53850-
dc.description.abstractTrades in foreign exchange markets are initiated around the world and around the clock. This study illustrates that trades are more informative when initiated in a local country or in major foreign exchange centers like London and New York. Evidence suggests that informational asymmetries based on geography arise from the market making capacity of dealers and the customer order flow that dealers capture during regional business hours. Findings also show that market orders initiated in price-correlated FX markets are not informative. Transparency in quotes on electronic trading platforms may prevent informed participants from exploiting information across FX markets. Overall, these results are robust across different market conditions.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2007,52en_US
dc.subject.jelF31en_US
dc.subject.jelG15en_US
dc.subject.ddc330en_US
dc.subject.keywordMarket structure and pricingen_US
dc.subject.keywordExchange ratesen_US
dc.subject.keywordFinancial marketsen_US
dc.subject.stwDevisenhandelen_US
dc.subject.stwDevisenmarkten_US
dc.subject.stwWechselkursen_US
dc.subject.stwAsymmetrische Informationen_US
dc.subject.stwWelten_US
dc.titleWhere does price discovery occur in FX markets?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn551412526en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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