Auflistung LIF-SAFE Working Papers nach Autor "Clapham, Benjamin"
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Circuit Breakers – A Survey among International Trading Venues
Clapham, Benjamin; Gomber, Peter; Haferkorn, Martin; Jentsch, Paul; Panz, Sven (2018-02-08)Circuit Breakers are widely implemented in 2016. Currently, the majority (86%) of the responding trading venues use circuit breakers to ensure investor protection and to increase market integrity and stability. Compared ... -
Coordination of Circuit Breakers? Volume Migration and Volatility Spillover in Fragmented Markets
Clapham, Benjamin; Gomber, Peter; Panz, Sven (2017-01-27)We study circuit breakers in a fragmented, multi-market environment and investigate whether a coordination of circuit breakers is necessary to ensure their effectiveness. In doing so, we analyze 2,337 volatility interruptions ... -
Liquidity Provider Incentives in Fragmented Securities Markets
Clapham, Benjamin; Gomber, Peter; Lausen, Jens; Panz, Sven (2018-07-31)We study the introduction of single-market liquidity provider incentives in fragmented securities markets. Specifically, we analyze the introduction of the Xetra Liquidity Provider Program at Deutsche Boerse from two ... -
Managing Excess Volatility: Design and Effectiveness of Circuit Breakers
Clapham, Benjamin; Gomber, Peter; Haferkorn, Martin; Panz, Sven (2017-02-02)We investigate different designs of circuit breakers implemented on European trading venues and examine their effectiveness to manage excess volatility and to preserve liquidity. Specifically, we empirically analyze ...