Work

Hanging up the phone - electronic trading in fixed income markets and its implications

Year: 2016

Type: article

Abstract: This article explores drivers and implications of the rising use of electronic and automated trading in fixed income markets - a process we refer to as "electronification". We take stock of the current state of electronic trading and how it has changed the market ecosystem, its resilience and its overall functioning. We argue that the impact of electronic and automated trading is visible in a number of dimensions of market liquidity and price efficiency. With market participants adjusting to the new market structure, several new challenges have emerged that warrant attention from policymakers.

Source: RePEc: Research Papers in Economics

Authors: Morten Linnemann Bech, Anamaria Illes, Ulf Lewrick, Andreas Schrimpf

Institutions: Bank for International Settlements, University of Basel, Aarhus University

Language: English

Topic: Financial Markets and Investment Strategies

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2302520192

FWCI: 2.789

Cites: 16

Cited by: 28

Related to: 10