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dc.contributor.authorD'Souza, Chrisen
dc.date.accessioned2011-12-15T12:56:48Z-
dc.date.available2011-12-15T12:56:48Z-
dc.date.issued2007-
dc.identifier.pidoi:10.34989/swp-2007-52en
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
dc.language.isoengen
dc.publisher|aBank of Canada |cOttawaen
dc.relation.ispartofseries|aBank of Canada Working Paper |x2007-52en
dc.subject.jelF31en
dc.subject.jelG15en
dc.subject.ddc330en
dc.subject.keywordMarket structure and pricingen
dc.subject.keywordExchange ratesen
dc.subject.keywordFinancial marketsen
dc.subject.stwDevisenhandelen
dc.subject.stwDevisenmarkten
dc.subject.stwWechselkursen
dc.subject.stwAsymmetrische Informationen
dc.subject.stwWelten
dc.titleWhere does price discovery occur in FX markets?-
dc.typeWorking Paperen
dc.identifier.ppn551412526en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:bca:bocawp:07-52en

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