This paper provides an overview of indicators that can be used to illustrate and analyze liquidity developments in financial markets. The measures include bid-a

This book exposes and comments on the consequences of Reg NMS and MiFID on market microstructure. It covers changes in market design, electronic trading, and in

We provide a synthesis of the empirical evidence on market liquidity. The liquidity measurement literature has established standard measures of liquidity that a

"The process by which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical

Liquidity and Asset Prices reviews the literature that studies the relationship between liquidity and asset prices. The authors review the theoretical literatur