BoE researchers unearth further evidence of electronic trading driving liquidity shocks
Electronic markets have been the epicentre of recent liquidity shocks
Post-crisis episodes of high volatility and low liquidity have so far not originated in predominantly dealer-intermediated markets, according to a financial stability paper published today (October 30) by the Bank of England (BoE).
The evidence presented in the paper, The resilience of financial market liquidity, points instead to fast, electronic markets as the epicentre of recent liquidity shocks. Furthermore, authors Niki Anderson, Lewis Webber, Joseph Noss, Daniel Beale and Liam Crowley
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