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| 01839nam 2200313za 4500 |
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| 001 | 9.850537 |
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| 003 | CaOODSP |
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| 005 | 20221107154156 |
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| 007 | cr ||||||||||| |
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| 008 | 180123s2018 oncd obs f000 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2018-3E-PDF |
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| 245 | 00|aSpeed segmentation on exchanges |h[electronic resource] : |bcompetition for slow flow / |cby Lisa Anderson ... [et al.]. |
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| 260 | |a[Ottawa] : |bBank of Canada, |c2018. |
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| 300 | |aii, 39 p. : |bcol. charts. |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2018-3 |
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| 500 | |a"January 2018." |
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| 504 | |aIncludes bibliographical references (p. 18-19). |
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| 520 | 3 |a“In 2015, TSX Alpha, a Canadian stock exchange, implemented a speed bump for marketable orders and an inverted fee structure as part of a redesign. We find no evidence that this redesign impacted market-wide measures of trading costs or contributed appreciably to segmenting retail order flow away from other Canadian venues with a maker-taker fee structure. This suggests that Alpha attracts already-segmented flow from venues with fee structures other than maker-taker. Some heavy users of Alpha trade off improvements in fill rates and execution size against mildly larger effective spreads and price impacts. These heavy users also utilize larger market orders and fewer spray orders"--Abstract, p. ii. |
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| 546 | |aIncludes abstract in French. |
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| 692 | 07|2gccst|aStock markets |
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| 692 | 07|2gccst|aFees |
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| 692 | 07|2gccst|aPricing |
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| 700 | 1 |aAnderson, Lisa. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2018-3|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s2.00 MB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-3-eng.pdf |
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