Website
http://dataportal.arc.gov.au/NCGP/API/grants/DP0344335
Funding Status
Closed
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Funded Activity Summary
When Markets Fail: A Comparative Assessment of Costs and Benefits of Trade Interruption. Stock exchanges worldwide provide the opportunity to instantaneously and continuously trade securities. The introduction of automated trading systems has considerably enhanced this opportunity. Surprisingly, exchanges still have (and use) the discretion to occasionally suspend trading in certain stocks. These trading halts are used to prevent a disorderly or uninformed response to pertinent company information releases. Practitioners and academics tend to believe that trading halts do not serve this role well. We propose a new methodology to more accurately measure the costs and benefits of trade suspensions. We compare their impact on different trading systems, and evaluate their intertemporal performance.Funded Activity Details
Start Date: 01-2003
End Date: 12-2006
Funding Scheme: Discovery Projects
Funding Amount: $110,000.00
Funder: Australian Research Council
Research Topics
ANZSRC Field of Research (FoR)
Finance | Financial Econometrics | Banking, Finance and Investment
ANZSRC Socio-Economic Objective (SEO)
Finance and investment services | Microeconomic issues not elsewhere classified |
