rice / enron finance seminar series a copy of paul schultz ' s paper , " who makes the market , " is now
available . the paper to can be obtained ( by monday for sure ) from felicia
jones ( economics ) , latha ramchand ( university of houston ) , and vince
kaminski ( enron ) or barbara ostdiek ( everyone else ) .
paul ' s seminar is friday , march 30 , at 3 : 30 in room 201 ( note the room
change ) .
the abstract of the paper is copied below :
abstract
" i provide evidence that nasdaq dealers make markets in the stocks in which
they receive order flow . several variables used to proxy for the stocks
that individual market maker ' s brokerage customers would trade , including
trading volume , location , underwriting participation and analyst coverage ,
are significant determinants of market marking activity . informational
advantages may also be a factor in the market making decision as evidenced
by dealers specializing in stocks in specific industries . some potential
problems that arise when researchers ignore the integration of market
making with brokerage , securities analysis and underwriting businesses are
discussed . "
rice / enron finance seminar series
a copy of paul schultz ' s paper , " who makes the market , " is now
available . the paper to can be obtained ( by monday for sure ) from felicia
jones ( economics ) , latha ramchand ( university of houston ) , and vince
kaminski ( enron ) or barbara ostdiek ( everyone else ) .
paul ' s seminar is friday , march 30 , at 3 : 30 in room 201 ( note the room
change ) .
the abstract of the paper is copied below :
abstract
" i provide evidence that nasdaq dealers make markets in the stocks in which
they receive order flow . several variables used to proxy for the stocks
that individual market maker ' s brokerage customers would trade , including
trading volume , location , underwriting participation and analyst coverage ,
are significant determinants of market marking activity . informational
advantages may also be a factor in the market making decision as evidenced
by dealers specializing in stocks in specific industries . some potential
problems that arise when researchers ignore the integration of market
making with brokerage , securities analysis and underwriting businesses are
discussed . "