首页> 外文会议>Hawaii International Conference on System Sciences >Mispricing and Exchange Market Systems: The Effect of Infrastructure Upgrades
【24h】

Mispricing and Exchange Market Systems: The Effect of Infrastructure Upgrades

机译:错误化和交换市场系统:基础设施升级的影响

获取原文

摘要

We study the effects of an infrastructure change at the Deutsche Boerse in Germany. On April 23rd 2007, Deutsche Boerse released an upgraded version of their electronic trading system Xetra. We examine the impact that this upgrade had on the efficiency of prices, measured as the level of mispricing, in the underlying liquid cash market and derivative futures market. Our analysis shows that the level of mispricings is economically and statistically (significant) reduced by the system upgrade.
机译:我们研究了基础设施变化在德国德意志鞋的影响。 2007年4月23日,Deutsche鞋面发布了升级版的电子交易系统Xetra。我们研究了这种升级对价格效率的影响,以潜在的液体现金市场和衍生期货市场在潜在的液体现金市场和衍生期期货市场上被衡量。我们的分析表明,系统升级减少了经济上和统计学(重大)水平。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱:kefu@zhangqiaokeyan.com

京公网安备:11010802029741号 ICP备案号:京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有
  • 客服微信

  • 服务号