I review the recent high-frequency trader (HFT) literature to single out the economic
channels by which HFTs affect market quality. I first group the various theoretical studies …

In this bibliometric study, the significant transformations in the financial sector brought about
by automation and technological advancements from 1984 to 2022 are explored. A total of …

We study intraday market intermediation in an electronic market before and during a period
of large and temporary selling pressure. On May 6, 2010, US financial markets experienced …

We investigate the relationship between ESG performance and stock price fragility using
stock holdings and flow data from Chinese equity funds. We find a negative relationship …

We analyze the contribution to price discovery of market and limit orders by high‐frequency
traders (HFTs) and non‐HFTs. While market orders have a larger individual price impact …

This study provides evidence that high-frequency traders (HFTs) identify patterns in past
trades and orders that allow them to anticipate and trade ahead of other investors' order …

We study market-making high-frequency trader (HFT) dynamics around large institutional
trades in Canadian equities markets using order-level data with masked trader identification …

Modern markets are characterized by speed differentials, with some traders being fractions
of a second faster than others. Theoretical models suggest that such differentials may have …

We use stock exchange message data to quantify the negative aspect of high-frequency
trading, known as “latency arbitrage.” The key difference between message data and widely …

The enormous rise of the cryptocurrencies over the last few years has created one of the
largest unregulated markets in the world. In this study, we obtain millisecond data for the five …