Market Making, the Tick Size, and Payment-for-Order Flow: Theory and Evidence

• 1 January 1995
• journal article
• Published by University of Chicago Press in The Journal of Business
• Vol. 68  (4) , 543
• https://doi.org/10.1086/296676

Abstract

Keywords

• PAYMENT
• MARKET MAKING
• TICK SIZE
• ORDER FLOW
• THEORY
• EVIDENCE