Matches in SemOpenAlex for { <https://semopenalex.org/work/W2888698574> ?p ?o ?g. }
- W2888698574 abstract "We provide the first detailed empirical evidence on the financialization of intraday trading activity in the world’s largest commodity market and show that this development had a first-order positive impact on market liquidity and pricing efficiency. We use a rich regulatory dataset to show that the electronification of U.S. crude oil futures trading in 2006 brought about a massive growth in intraday activity by “non-commercial” institutional financial traders. We exploit differences in the post-electronification growth rates of institutional financial trading in crude oil futures contracts of different maturities to tease out the effect of financialization on key metrics of commodity market quality. We show that increased institutional financial trading reduces the variance of pricing errors, narrows bid-ask spreads, and improves market depth. Our inferences are robust to differences in the nature and volume of non-financial trading. Finally, we provide novel evidence of notable differences between the respective contributions of high-frequency traders (HFTs) vs. other (non-HFT) institutional financial traders to different market quality attributes." @default.
- W2888698574 created "2018-08-31" @default.
- W2888698574 creator A5013042528 @default.
- W2888698574 creator A5028351052 @default.
- W2888698574 creator A5040127441 @default.
- W2888698574 date "2017-01-01" @default.
- W2888698574 modified "2023-09-30" @default.
- W2888698574 title "The Third Dimension of Financialization: Electronification, Intraday Institutional Trading, and Commodity Market Quality" @default.
- W2888698574 cites W1524955526 @default.
- W2888698574 cites W1605314053 @default.
- W2888698574 cites W1958925377 @default.
- W2888698574 cites W1972474785 @default.
- W2888698574 cites W1978596428 @default.
- W2888698574 cites W1979161134 @default.
- W2888698574 cites W2035606631 @default.
- W2888698574 cites W2050643653 @default.
- W2888698574 cites W2081012805 @default.
- W2888698574 cites W2093362178 @default.
- W2888698574 cites W2098789514 @default.
- W2888698574 cites W2103467996 @default.
- W2888698574 cites W2113983529 @default.
- W2888698574 cites W2117178771 @default.
- W2888698574 cites W2119623885 @default.
- W2888698574 cites W2139254678 @default.
- W2888698574 cites W2148560022 @default.
- W2888698574 cites W2151915375 @default.
- W2888698574 cites W2167456726 @default.
- W2888698574 cites W2323015187 @default.
- W2888698574 cites W2333630357 @default.
- W2888698574 cites W2345855548 @default.
- W2888698574 cites W2411042236 @default.
- W2888698574 cites W2736256626 @default.
- W2888698574 cites W2891089654 @default.
- W2888698574 cites W3008273182 @default.
- W2888698574 cites W3121136571 @default.
- W2888698574 cites W3121401171 @default.
- W2888698574 cites W3121729798 @default.
- W2888698574 cites W3122202697 @default.
- W2888698574 cites W3122551880 @default.
- W2888698574 cites W3122786537 @default.
- W2888698574 cites W3123095408 @default.
- W2888698574 cites W3123290516 @default.
- W2888698574 cites W3123454797 @default.
- W2888698574 cites W3124100807 @default.
- W2888698574 cites W3124505214 @default.
- W2888698574 cites W3124672250 @default.
- W2888698574 cites W3124692056 @default.
- W2888698574 cites W3124760153 @default.
- W2888698574 cites W3124760570 @default.
- W2888698574 cites W3125431097 @default.
- W2888698574 cites W3125488123 @default.
- W2888698574 cites W3185112528 @default.
- W2888698574 doi "https://doi.org/10.2139/ssrn.3068248" @default.
- W2888698574 hasPublicationYear "2017" @default.
- W2888698574 type Work @default.
- W2888698574 sameAs 2888698574 @default.
- W2888698574 citedByCount "4" @default.
- W2888698574 countsByYear W28886985742018 @default.
- W2888698574 countsByYear W28886985742020 @default.
- W2888698574 countsByYear W28886985742022 @default.
- W2888698574 crossrefType "journal-article" @default.
- W2888698574 hasAuthorship W2888698574A5013042528 @default.
- W2888698574 hasAuthorship W2888698574A5028351052 @default.
- W2888698574 hasAuthorship W2888698574A5040127441 @default.
- W2888698574 hasConcept C10138342 @default.
- W2888698574 hasConcept C106159729 @default.
- W2888698574 hasConcept C111472728 @default.
- W2888698574 hasConcept C138885662 @default.
- W2888698574 hasConcept C144133560 @default.
- W2888698574 hasConcept C162324750 @default.
- W2888698574 hasConcept C202444582 @default.
- W2888698574 hasConcept C206757995 @default.
- W2888698574 hasConcept C2776667075 @default.
- W2888698574 hasConcept C2779439359 @default.
- W2888698574 hasConcept C2779530757 @default.
- W2888698574 hasConcept C2780837152 @default.
- W2888698574 hasConcept C33676613 @default.
- W2888698574 hasConcept C33923547 @default.
- W2888698574 hasConcept C39389867 @default.
- W2888698574 hasConcept C556758197 @default.
- W2888698574 hasConcept C73283319 @default.
- W2888698574 hasConceptScore W2888698574C10138342 @default.
- W2888698574 hasConceptScore W2888698574C106159729 @default.
- W2888698574 hasConceptScore W2888698574C111472728 @default.
- W2888698574 hasConceptScore W2888698574C138885662 @default.
- W2888698574 hasConceptScore W2888698574C144133560 @default.
- W2888698574 hasConceptScore W2888698574C162324750 @default.
- W2888698574 hasConceptScore W2888698574C202444582 @default.
- W2888698574 hasConceptScore W2888698574C206757995 @default.
- W2888698574 hasConceptScore W2888698574C2776667075 @default.
- W2888698574 hasConceptScore W2888698574C2779439359 @default.
- W2888698574 hasConceptScore W2888698574C2779530757 @default.
- W2888698574 hasConceptScore W2888698574C2780837152 @default.
- W2888698574 hasConceptScore W2888698574C33676613 @default.
- W2888698574 hasConceptScore W2888698574C33923547 @default.
- W2888698574 hasConceptScore W2888698574C39389867 @default.
- W2888698574 hasConceptScore W2888698574C556758197 @default.
- W2888698574 hasConceptScore W2888698574C73283319 @default.
- W2888698574 hasLocation W28886985741 @default.
- W2888698574 hasOpenAccess W2888698574 @default.