Plausibly Exogenous [1489] - Market Makers (02/29/2024)
LHS Variable
Liquidity
RHS Variable
Designated Market Maker (DMM) participation
Source of Exogenous Variation
Independent technological glitches forced two separate trading halts on different U.S. exchanges during the week of July 6, 2015
- Clark-Joseph, Ye, and Zi (2017), “Designated market makers still matter: Evidence from two natural experiments”