Financial markets have the important role to aggregate and allocate resources and risks in time and space. In order to do design markets that fulfill this role as efficient as possible, it is important to know how financial markets are organized, how they are regulated, how trades are executed and paid for, and finally, what impact these issues have on the price formation. These questions are extensively treated in a field of research called market microstructure.
KeywordsPrivate Information Euro Area Trading Cost Equity Market Bond Market
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