Location matters: an examination of trading profits

Article Abstract:

Data on traders from eight different countries trading on the German Security Exchange's Electronic trading system, Xetra, was used to explore the effects of asymmetrical information in a global market. Research results reveal that trading profits were lower for both non-German-speaking traders and traders located outside Germany.

Germany, Statistical Data Included, Technology application, Finance, Electronic trading (Securities), Online securities trading, German Security Exchange

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On the perils of financial intermedaries setting security prices: the mutual fund wild card option

Article Abstract:

This paper uses open-end mutual funds to show how distortions are created when securities are traded at prices set by intermediaries. Mutual funds typically set their fund prices using algorithms that do not take into account the trading of the funds' underlying securities by intermediaries.

Investment Offices, Mutual Fund Mgmt Companies, Portfolio Management, Prices and rates, Stocks, Mutual funds, Stock prices

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