Riksbank paper finds ‘significant’ gains from faster trading
Faster trading systems have eliminated arbitrage opportunities, authors say
Faster trading appears to have boosted the efficiency and quality of Nordic markets, according to the authors of a working paper published by Sveriges Riksbank on May 29.
Burton Hollifield of Carnegie Mellon University and Patrik Sandås and Andrew Todd of the University of Virginia study the response of the market to the introduction of new, faster trading systems in 2010.
They look for incidences of arbitrage opportunities for stocks listed across the Nasdaq Nordic exchanges in Copenhagen
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