Arbeitspapier
Anonymous electronic trading versus floor trading
This paper compares the attractiveness of floor trading and anonymous electronic trading systems. It is argued that in times of low information intensity the insight into the order book of the electronic trading system provides more valuable information than floor trading, but in times of high information intensity the reverse is true. Thus, the electronic system's market share in trading activity should decline in times of high information intensity. This hypothesis is tested by data on BUND-Future trading. This future is traded on the German and on the British futures exchange. The empirical results support the hypothesis.
- Language
-
Englisch
- Bibliographic citation
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Series: Diskussionsbeiträge - Serie II ; No. 285
- Classification
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Wirtschaft
- Subject
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Börse
Computerunterstützung
Informationskosten
Zinsderivat
Deutschland
Großbritannien
- Event
-
Geistige Schöpfung
- (who)
-
Franke, Günter
Hess, Dieter
- Event
-
Veröffentlichung
- (who)
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Universität Konstanz, Sonderforschungsbereich 178 - Internationalisierung der Wirtschaft
- (where)
-
Konstanz
- (when)
-
1995
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Franke, Günter
- Hess, Dieter
- Universität Konstanz, Sonderforschungsbereich 178 - Internationalisierung der Wirtschaft
Time of origin
- 1995
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