Maker-taker Exchange Fees and Market Liquidity: Evidence from a Natural Experiment

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Title

Maker-taker Exchange Fees and Market Liquidity: Evidence from a Natural Experiment

Content partner

University of Canterbury Library

Collection

UC Research Repository

Description

Motivated by a desire to enhance market liquidity, exchanges around the world have recently shown increasing interest in so-called `maker-taker' fee structures. However, little is currently known about the e ectiveness of such schemes. We therefore make use of a natural experiment to empir- ically assess the impact of maker-taker fees on liquidity. For three months during 2008, the New Zealand Stock Exchange applied maker-taker ex-change fees to Australian securities cross-listed on the New Z...

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Format

Research paper

Research format

Conference paper

Date created

2011

Creator

Berkman, H. / Boyle, G. / Frino, A.

URL

http://hdl.handle.net/10092/5693

Related subjects

maker-taker fees / liquidity / bid-ask / depth / volume / Economics / Applied economics / Financial economics / Commerce, Management, Tourism and Services / Banking, Finance and Investment

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