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Spoilt for choice: Determinants of market shares in fragmented equity markets by Gomber, Peter (author);Sagade, Satchit (author);Theissen, Erik (author);Weber, Moritz Christian (author);Westheide, Christian (author) is a Economics, Econometrics and Finance article available to read on EtoBox.

What is Spoilt for choice: Determinants of market shares in fragmented equity markets about?

We analyze the determinants of the trading volumes of different trading mechanisms in equity markets using an extensive panel data set from European markets comprising public limit order books, call auctions, dark pools, internalization platforms, and the over-the-counter market. Market shares, resulting from investors' order routing decisions, are driven by the degree of immediacy and anonymity offered by the venues, their ability to offer off-tick executions, as well as the informational environment and conditions in the market. Findings for small and large trades are distinctly different, likely because traders jointly choose trade size and venue type.✩ We thank Gideon Saar (the editor), two anonymous referees, Gbenga Ibikunle,

Who reads Spoilt for choice: Determinants of market shares in fragmented equity markets?

Author

Gomber, Peter (author);Sagade, Satchit (author);Theissen, Erik (author);Weber, Moritz Christian (author);Westheide, Christian (author)

Publisher

Elsevier BV

Published

2023

Language

EN

Field

Economics, Econometrics and Finance (Social Sciences)