Auflistung LIF-SAFE Working Papers nach Autor "Panz, Sven"

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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 ...