DOI: 10.5176/2251-1997_AF15.61



This paper addresses the microstructure of the Slovak and Polish public financial markets. The aim of the paper is to justify the development and potential of high frequency trading (HFT) on regulated markets. The research follows H. Hau’s discussion on the location of traders against the exchange. The regression analysis is applied over two neighborhood economies. The evidence shows that there is the potential market service concentration, weak interconnectivity and substantial geographical concentration of notified entities. It is argued that the Polish and Slovak financial markets are not currently responsive to distance as the financial competitiveness advantage.

Keywords: algorithmic trading; geocoding; home bias; panel


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