This paper presents a transaction‐level empirical analysis of the trading activities of New
York Stock Exchange specialists. The main findings of the analysis are the following. …

This paper examines empirically the magnitude and determinants of dealer trading by NYSE
market makers (specialists) across stocks and over time. Across stocks, specialist dealer …

We examine how the intrinsic differences between US and non-US stocks affect market
participants and the market quality of non-US stocks relative to US stocks. Using proprietary data …

This paper provides a selective description of New York Stock Exchange systems, trading
rules and procedures. The paper’s primary objective is to provide researchers with a detailed …

In this paper, we examine what happens to the global value of trading, turnover and prices
of non-US stocks over the twelve-month period surrounding their listing on the New York …

Program trading and intraday changes in the S&P 500 Index are correlated. Futures prices
and, to a lesser extent, cash prices lead program trades. Index arbitrage trades are followed …

… B5 medium (3 g of Gamborg, 1.36 g of KH 2 PO 4 , 9.9 g of glucose, and 15 g of agar per liter
of … -agar (YBA) (10 g of yeast extract, 10 g of Bacto peptone, 20 g of sodium acetate, and 15 …

In this paper, we examine the impact of loan commitment agreements on the way in which
monetary policy affects the economy. We estimate a vector autoregressive (VAR) model and …

This paper studies the contribution of NYSE floor brokers to the Exchange's agency auction
market. Floor brokers represent 44%, specialists 11%, and system orders 45% of the value of …

In this paper, we use April 1993 specialist transaction data on 200 NYSE stocks to estimate
average specialist gross trading revenues. We define gross trading revenues as the daily …