How Rigged Are Stock Markets? Evidence from Microsecond Timestamps (by Robert P. Bartlett and Justin McCrary)07.25.2016
How Rigged are Stock Markets? Evidence from Microsecond Timestamps
Robert P. Bartlett III
University of California, Berkeley – School of Law; University of California, Berkeley – Berkeley Center for Law, Business and the Economy
University of California, Berkeley; National Bureau of Economic Research (NBER)
July 20, 2016
Number of Pages in PDF File: 51
The service covers over 2 million liquid and less liquid fixed income instruments.
The US firm is expanding its European equity execution business.
The bank allegedly routed orders to its SuperX ATS despite lower fill rates.
Streaming blocks change the basis of matching and price discovery so institutions can find new liquidity.
Concerns have been expressed around the value of these reports.