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Die Betreuer am Neuen Markt: eine empirische Analyse

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  • Gerke, Wolfgang
  • Bosch, Robert

Abstract

Die Betreuer am neuen Markt sollen die Effizienz des Handels durch Bereitstellung zusätzlicher Liquidität erhöhen. Die vorliegende Studie untersucht den Liquiditätsbeitrag der Betreuer in zwei aufeinanderfolgenden Jahren. Die Beteiligung der Betreuer am Umsatz des Marktes hat im beobachteten Zeitraum deutlich abgenommen. Ihre Orderlimits und -volumina hingegen haben die Markttiefe erhöht. Weiterhin zeigt sich, daß die Betreuer sowohl in liquiditätsschwachen Titeln als auch in liquiditätsschwachen Marktphasen zur Steigerung der Liquidität beigetragen haben.

Suggested Citation

  • Gerke, Wolfgang & Bosch, Robert, 1999. "Die Betreuer am Neuen Markt: eine empirische Analyse," CFS Working Paper Series 1999/12, Center for Financial Studies (CFS).
    • Handle: RePEc:zbw:cfswop:199912
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    References listed on IDEAS

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    Cited by:

    1. Daniel Dorn & Gur Huberman & Paul Sengmueller, 2008. "Correlated Trading and Returns," Journal of Finance, American Finance Association, vol. 63(2), pages 885-920, April.

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    More about this item

    Keywords

    Dealer Markets; Competition; Liquidity; Hybrid Trading Systems; Neuer Markt;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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