2 citations · 3 across the 3 of their papers we have counts for
4 papers
Fragmentation and optimal liquidity supply on decentralized exchanges
Alfred Lehar, Christine Parlour, Marius Zoican
We investigate how liquidity providers (LPs) choose between high- and low-fee trading venues, in the face of a fixed common gas cost. Analyzing Uniswap data, we find that high-fee…
Fragmentation of Distributed Exchanges
Marius Zoican, Sorin Zoican
Distributed securities exchanges may become de facto fragmented if they span geographical regions with asymmetric computer infrastructure. First, we build an economic model of a de…
Do speed bumps curb low-latency trading? Evidence from a laboratory market
Mariana Khapko, Marius Zoican
Exchanges implement intentional trade delays to limit the harmful impact of low-latency trading. Do such "speed bumps" curb investment in fast trading technology? Data is scarce si…
Liquid Speed: On-Demand Fast Trading at Distributed Exchanges
Michael Brolley, Marius Zoican
Exchanges acquire excess processing capacity to accommodate trading activity surges associated with zero-sum high-frequency trader (HFT) "duels." The idle capacity's opportunity co…