Abstract
This doctoral thesis focuses on two topics on trading in financial markets: competition between stock exchanges and optimal trading strategies. Chapter one analyzes the effect on the liquidity of a stock when it is traded on multiple trading venues, and distinguishes between competition from transparent and opaque venues. Chapter two demonstrates a strong interaction between the supply and demand of trading activity across trading venues. Chapter three focuses on the optimal strategy to trade a large amount of shares before a deadline. It studies the information asymmetry between informed and uninformed traders, and finds that splitting the large quantity into smaller parts may resolve this friction.
| Original language | English |
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| Qualification | Doctor of Philosophy |
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| Award date | 25 Jan 2013 |
| Place of Publication | Tilburg |
| Publisher | |
| Print ISBNs | 9789056683412 |
| Publication status | Published - 2013 |