[ IMPACT DU PROCESSUS DE NEGOCIATION SUR L'OFFRE DE LIQUIDITE ]
Volume 10, Issue 2, February 2015, Pages 641–648
Kaltoum LAJFARI1
1 UFR MONNAIE FINANCE BANQUE, CENTRE D'ETUDES DOCTORALES, UNIVERSITE MOHAMED V AGDAL RABAT, FACULTE DES SCIENCES JURIDIQUES ECONOMIQUES ET SOCIALES, RABAT, Maroc
Original language: French
Copyright © 2015 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Being an essential quality of the financial markets, market liquidity represent a big concern for both, financial authorities and investors. Liquidity offer depends on several parameters including the mode of organization of exchanges. The structure of the Exchange influence directly competition between investors and the quality of the information available to them. Thus, liquidity offer strategies differ from a order driven market of a quote driven market. Therefore, competition between liquidity providers depends on their liquidity offer strategy and differ in both markets.
Author Keywords: market liquidity, liquidity offer, order driven market, quote driven market, competition, information.
Volume 10, Issue 2, February 2015, Pages 641–648
Kaltoum LAJFARI1
1 UFR MONNAIE FINANCE BANQUE, CENTRE D'ETUDES DOCTORALES, UNIVERSITE MOHAMED V AGDAL RABAT, FACULTE DES SCIENCES JURIDIQUES ECONOMIQUES ET SOCIALES, RABAT, Maroc
Original language: French
Copyright © 2015 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
Being an essential quality of the financial markets, market liquidity represent a big concern for both, financial authorities and investors. Liquidity offer depends on several parameters including the mode of organization of exchanges. The structure of the Exchange influence directly competition between investors and the quality of the information available to them. Thus, liquidity offer strategies differ from a order driven market of a quote driven market. Therefore, competition between liquidity providers depends on their liquidity offer strategy and differ in both markets.
Author Keywords: market liquidity, liquidity offer, order driven market, quote driven market, competition, information.
Abstract: (french)
Représentant une qualité essentielle des marchés financiers, la liquidité de marché est au cœur des préoccupations aussi bien des autorités financières que celles des investisseurs. En effet, l'offre de liquidité est fonction de plusieurs paramètres dont le mode d'organisation des échanges. La structure de l'échange influence directement la concurrence entre les investisseurs et la qualité de l'information dont ils disposent. Ainsi, la stratégie d'offre de liquidité diffère d'un marché dirigé par les ordres d'un marché dirigé par les prix. Par conséquent, la nature de la concurrence entre offreurs de liquidité étant fonction de leur stratégie d'offre de liquidité, diffèrent sur les deux marchés.
Author Keywords: liquidité de marché, offre de liquidité, marché dirigé par les ordres, marché dirigé par les prix, concurrence, information.
How to Cite this Article
Kaltoum LAJFARI, “TRADING PROCESS IMPACT ON LIQUIDITY OFFER,” International Journal of Innovation and Applied Studies, vol. 10, no. 2, pp. 641–648, February 2015.
