111
Views
0
CrossRef citations to date
0
Altmetric
Notes

The impact of upstairs trading on market quality: evidence from a highly segmented market*

ORCID Icon, &
Pages 326-332 | Received 07 Jul 2021, Accepted 15 Jun 2022, Published online: 05 Jul 2022

References

  • Bessembinder, H., & Venkataraman, K. (2004). Does an electronic stock exchange need an upstairs market? Journal of Financial Economics, 73, 3–36.
  • Booth, G. G., Lin, J.-C., Martikainen, T., & Tse, Y. (2002). Trading and pricing in upstairs and downstairs stock markets. The Review of Financial Studies, 15(4), 1111–1135.
  • Burdett, K., & O'hara, M. (1987). Building blocks: An introduction to block trading. Journal of Banking and Finance, 11(2), 193–212.
  • Grossman, S. J. (1992). The informational role of upstairs and downstairs markets. Journal of Business, 65(4), 509–529.
  • Madhavan, A., & Cheng, M. (1997). In search of liquidity: Block trades in the upstairs and downstairs market. The Review of Financial Studies, 10(1), 175–203.
  • Rose, A. (2014). The informational effect and market quality impact of upstairs trading and fleeting orders on the Australian securities exchange. Journal of Empirical Finance, 28, 171–184.
  • Seppi, D. J. (1990). Equilibrium block trading and asymmetric information. The Journal of Finance, 45, 73–94.
  • Smith, B. F., Turnbull, D., Alasdair, S., & White, R. W. (2001). Upstairs markets for principal and agency trades: Analysis of adverse information and price effects. The Journal of Finance, 56(5), 1723–1746.
  • Westerholm, P. J. (2009). Do uninformed crossed and internalized trades tap into unexpressed liquidity? The case of Nokia. Accounting and Finance, 49(2), 407–424.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.