The use of computers to execute trades, often with very low latency, has increased over time,
resulting in a variety of computer algorithms executing electronically targeted trading …

Regulators continue to debate whether high‐frequency trading (HFT) is beneficial to market
quality. Using Strongly Typed Genetic Programming (STGP) trading algorithm, we develop …

We document an increase in limit order cancellation activity over the last decade and
examine the impact of cancellation activity on market quality. Additionally, we test theoretical …

We survey empirical studies on the development and effects of increased computerization
across equity, foreign exchange, derivatives, and fixed‐income markets. While the changes …

We develop three artificial stock markets populated with two types of market participants—
HFT scalpers and aggressive high frequency traders (HFTrs). We simulate real-life trading at …

Using data from 2002 to 2013, we show that algorithmic trading has a positive impact on firm
value. Most of this positive impact flows through the channels of stock liquidity, idiosyncratic …

Experimental research in psychology has found a strong negative association between
traffic congestion and stress levels of commuters. Here, we investigate the consequences of …

This study investigates the role of latency in market quality in the Australia Securities
Exchange following the introduction of the Integrated Trading Platform (ITS) and ASXTrade …

Based on the multi-agent model, an artificial stock market with four types of traders is
constructed. On this basis, this paper focuses on comparing the effects of liquidation …

We estimate linear regressions with dummy variables for the rates of return, spreads and
volumes of stocks included in the main Warsaw Stock Exchange index WIG 20 to reveal the …