Essec\Faculty\Model\Contribution {#2216 ▼
#_index: "academ_contributions"
#_id: "4828"
#_source: array:26 [
"id" => "4828"
"slug" => "4828-liquidity-supply-in-multiple-markets"
"yearMonth" => "2006-06"
"year" => "2006"
"title" => "Liquidity Supply in Multiple Markets?"
"description" => "LESCOURRET, L. et MOINAS, S. (2006). Liquidity Supply in Multiple Markets? Dans: <i>EFMA 2006</i>. European Financial Management Association (EFMA). 
LESCOURRET, L. et MOINAS, S. (2006). Liquidity Supply in Multiple Markets? Dans: <i>EFMA 2006</i>. E "
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "EFMA 2006"
"keywords" => array:3 [
0 => "Fragmentation des marchés"
1 => "Gestion de la position"
2 => "Microstructure des marchés"
]
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Actes d'une conférence"
"en" => "Conference Proceedings"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Using an inventory model based on Ho and Stoll (1983), this paper examines how two competing risk-averse dealers supply liquidity in two different market systems. We find that price formation and market spreads are directly impacted by the way order flows are correlated ins systems. If order flows are negatively correlated, dealers expect to better manage their inventory position and market spreads reduce. When order flows are positively correlated, dealers are more likely to be touched on the same side which increases their inventory and market spreads increase. Further, this model shed new light on some empirical results (Hansh (2001), or Werner and Kleidon (1996)). Using an inventory model based on Ho and Stoll (1983), this paper examines how two competing risk-av "
"en" => "Using an inventory model based on Ho and Stoll (1983), this paper examines how two competing risk-averse dealers supply liquidity in two different market systems. We find that price formation and market spreads are directly impacted by the way order flows are correlated ins systems. If order flows are negatively correlated, dealers expect to better manage their inventory position and market spreads reduce. When order flows are positively correlated, dealers are more likely to be touched on the same side which increases their inventory and market spreads increase. Further, this model shed new light on some empirical results (Hansh (2001), or Werner and Kleidon (1996)). Using an inventory model based on Ho and Stoll (1983), this paper examines how two competing risk-av "
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2025-03-14T22:21:40.000Z"
"docTitle" => "Liquidity Supply in Multiple Markets?"
"docSurtitle" => "Conference Proceedings"
"authorNames" => "<a href="/cv/daures-laurence">LESCOURRET Laurence</a>, MOINAS S."
"docDescription" => "<span class="document-property-authors">LESCOURRET Laurence, MOINAS S.</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2006</span> <span class="document-property-authors">LESCOURRET Laurence, MOINAS S.</span><br><span class="docume "
"keywordList" => "<a href="#">Fragmentation des marchés</a>, <a href="#">Gestion de la position</a>, <a href="#">Microstructure des marchés</a> <a href="#">Fragmentation des marchés</a>, <a href="#">Gestion de la position</a>, <a href="#">Micro "
"docPreview" => "<b>Liquidity Supply in Multiple Markets?</b><br><span>2006-06 | Conference Proceedings </span>"
"docType" => "research"
"publicationLink" => "<a href="#" target="_blank">Liquidity Supply in Multiple Markets?</a>"
]
+lang: "en"
+"_type": "_doc"
+"_score": 8.994751
+"parent": null
}
