Contribution of Closing Algorithms to Securities Markets Quality
(2003) 12th European Financial Management Association (EFMA) Annual Meeting - Doctoral Seminar — Location: Helsinki (Finlande)
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- Authors
- Abstract
- (en) Closing periods offer many promising avenues for future research. These last trading protocols determine ultimate decisions for investors. In this context, we are in front of a higher demand for immediacy. Impatient and/or informed traders have to adjust their positions just before the overnight interruption with aggressive orders. This could imply a price discovery pressure and also a smaller informational content of closing prices. In other words, financial markets should set up complex closing procedures in order to avoid bias from efficiency.
- Affiliations
Louvain School of Management Accounting & Finance
Citations
Gillard, M.-F. (2003). Contribution of Closing Algorithms to Securities Markets Quality. 12th European Financial Management Association (EFMA) Annual Meeting - Doctoral Seminar, Helsinki (Finlande). https://hdl.handle.net/2078.5/128773