Auflistung nach Autor "Sagade, Satchit"

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    • A Tale of One Exchange and Two Order Books: Effects of Fragmentation in the Absence of Competition 

      Bernales, Alejandro; Garrido, Nicolás; Sagade, Satchit; Valenzuela, Marcela; Westheide, Christian (2018-10-01)
      Exchanges nowadays routinely operate multiple, almost identically structured limit order markets for the same security. We study the effects of such fragmentation on market performance using a dynamic model where agents ...

    • Competition Between Equity Markets: A Review of the Consolidation Versus Fragmentation Debate 

      Gomber, Peter; Sagade, Satchit; Theissen, Erik; Weber, Moritz Christian; Westheide, Christian (2016-06-21)
      Technological advances and regulatory initiatives have led to the emergence of a competitive, but fragmented, equity trading landscape in several markets around the world. While these changes have coincided with benefits ...

    • Quasi-Dark Trading: The Effects of Banning Dark Pools in a World of Many Alternatives 

      Johann, Thomas; Putnins, Talis; Sagade, Satchit; Westheide, Christian (2019-04-30)
      We show that “quasi-dark” trading venues, i.e., markets with somewhat non-transparent trading mechanisms, are important parts of modern equity market structure alongside lit markets and dark pools. Using the European MiFID ...

    • Resiliency: Cross-Venue Dynamics with Hawkes Processes 

      Pelizzon, Loriana; Sagade, Satchit; Vozian, Katia (2020-10-16)
      Market fragmentation and technological advances increasing the speed of trading altered the functioning and stability of global equity limit order markets. Taking market resiliency as an indicator of market quality, we ...

    • Spoilt for Choice: Order Routing Decisions in Fragmented Equity Markets 

      Gomber, Peter; Sagade, Satchit; Theissen, Erik; Weber, Moritz Christian; Westheide, Christian (2016-08-01)
      The equity trading landscape all over the world has changed dramatically in recent years. We have witnessed the advent of new trading venues and significant changes in the market shares of existing ones. We use an extensive ...