Designated Sponsors and Bid-Ask Spreads on Xetra

Hengelbrock, Jördis

doi:10.2139/ssrn.1046961

Cited by 5 publications

(3 citation statements)

References 18 publications

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“…We find that a decrease in the number of DMMs results in a significant increase 1 See, e.g., Anand et al (2009), Bessembinder et al (2020), Clark-Joseph et al (2017), Comerton-Forde et al (2010, Declerck and Hazart (2002), Eldor et al (2006), Hengelbrock (2012), Menkveld and Wang (2013), Nimalendran and Petrella (2003), Skjeltorp and Ødegaard (2015), Perotti and Rindi (2010).…”

Section: Introductionmentioning

confidence: 67%

One for the Money, Two for the Show?The Number of Designated Market Makers and Liquidity

Theissen

Westheide

2022

SSRN Journal

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Section: Introductionmentioning

confidence: 67%

One for the Money, Two for the Show?The Number of Designated Market Makers and Liquidity

Theissen

Westheide

2022

SSRN Journal

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“…These theoretical predictions are supported by a growing body of empirical evidence which suggests that designated market makers indeed improve liquidity (e.g. Anand et al (2009), Anand and Venkataraman (2016), Bessembinder et al (2017), Clark-Joseph et al (2017, Declerck andHazart (2002), Eldor et al (2006), Hengelbrock (2011), Menkveld and Wang (2013), Nimalendran and Petrella (2003) and Skjeltorp and Ødegaard (2015)).…”

Section: Introductionmentioning

confidence: 86%

Call of duty: Designated market maker participation in call auctions

Theissen

Westheide

2020

Journal of Financial Markets

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“…Several papers analyze the impact of designated market makers on liquidity (Anand et al (2009) for the Swedish market, Declerck and Hazart (2002) and Venkataraman and Waisburd (2007) for the French market, Eldor et al (2006) for the options market in Israel, Hengelbrock (2012) for the German market, Menkveld and Wang (2011) for the Dutch market, Nimalendran and Petrella (2003) for the Italian market, and Ødegaard and Skjeltorp (2012) for the Norwegian market). These papers agree on the conclusion that the existence of designated sponsors increases liquidity.…”

Section: Introductionmentioning

confidence: 99%