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09-046/3 - Are Market Makers Uninformed and Passive? Signing Trades in The Absence of Quotes


  • Authors
    Michel van der Wel, Erasmus University Rotterdam, CREATES, ERIM; Albert Menkveld, VU University Amsterdam; Asani Sarkar, Federal Reserve Bank of New York
  • Publication date
    May 25, 2009
  • Keywords
    market microstructure, signing trades, market makers, treasury futures, discount rate
  • JEL
    C22, G14, E44