The Quotation Behavior of ECNs and Nasdaq Market Makers

Nonparametric Statistical Methods

1999 • 6,387 citations

Nonparametric Statistical Methods.

1974 • 2,964 citations

The Advanced Theory of Statistics.

1967 • 1,411 citations

Dealer versus auction markets: A paired comparison of execution costs on NASDAQ and the NYSE

1996 • 1,096 citations

Why do NASDAQ Market Makers Avoid Odd‐Eighth Quotes?

1994 • 792 citations

Minimum Price Variations, Discrete Bid–Ask Spreads, and Quotation Sizes

1994 • 659 citations

Stock Price Clustering and Discreteness

1991 • 585 citations

Transaction Costs, Order Placement Strategy, and Existence of the Bid-Ask Spread

1981 • 394 citations

Effects of Market Reform on the Trading Costs and Depths of Nasdaq Stocks

1999 • 351 citations

Market Structure and the Intraday Pattern of Bid-Ask Spreads for NASDAQ Securities

1995 • 342 citations

Why Did NASDAQ Market Makers Stop Avoiding Odd‐Eighth Quotes?

1994 • 336 citations

Clustering and Competition in Asset Markets

1997 • 156 citations

The trading profits of SOES bandits

1998 • 117 citations

Nasdaq market structure and spread patterns

1997 • 113 citations

Minimum Price Variations, Time Priority, and Quote Dynamics

1999 • 109 citations

Why Nasdaq market makers avoid odd-eighth quotes

1996 • 97 citations

Post-trade transparency on Nasdaq's national market system1We would like to thank Tom Abbott, Robert Battalio, George Benston, Bill Christie, Larry Fisher, Steve Foerster, Jason Greene, Mike Jensen, Pete Kyle, Paul Laux, Ananth Madhavan, Jean Masson, Junius Peake, Paul Schultz, Paul Seguin, Paul Torregrosa, Dave Whitcomb, as well as seminar participants at the Northern, Southern, and Western Finance Meetings, the Symposium on the Organization of Financial Trade and Exchange Mechanisms, the …

1998 • 58 citations

What If Time Priority Is Not Enforced Among Traders?

1998 • 14 citations

Dealer Markets Under Stress: The Performance of NASDAQ Market Makers During the November 15, 1991, Market Break

1998 • 8 citations