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Title:Does SIZE matter?: Liquidity provision by the Nasdaq anonymous trading Facility PDF Logo
Authors:Mizrach, Bruce
Issue Date:2005
Series/Report no.:Working papers // Department of Economics, Rutgers, the State University of New Jersey 2006,02
Abstract:I examine the effects of Nasdaq's introduction of an anonymous trading facility called SIZE. I compare SIZE to competing ECNs in terms of liquidity and market impact. Despite rapid growth, SIZE has not yet attained a significant market share and rarely influences short-run price evolution. I conclude with discussion of the Nasdaq-ECN mergers and speculate about a role for SIZE in trading listed securities.
Subjects:ECN
market impact
super montage
total view
JEL:G14
G20
Document Type:Working Paper
Appears in Collections:Working Papers, Department of Economics, Rutgers University

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