Circuit breaker, an automated regulatory instrument employed to deter panic, temper
volatility, and prevent crashes, is controversial in financial markets. Proponents claim it …

High-frequency traders account for a significant part of overall price formation and liquidity
provision in modern securities markets. In order to react within microseconds, high …

We investigate different designs of circuit breakers implemented on European trading
venues and examine their effectiveness to manage excess volatility and to preserve liquidity …

This paper provides a suitable model for studying the strategic behavior of uninformed
investors that trade commodity derivatives via limit order books. Two main testable …

We study circuit breakers in a fragmented, multi-market environment and investigate
whether a coordination of circuit breakers is necessary to ensure their effectiveness. In doing …

Objectives Hepatic enzyme-inducing antiepileptic drugs (AEDs) increase serum lipid levels
and other atherogenic markers via the induction of cytochrome P450 and may therefore …

This paper studies whether rule-based circuit breakers in the form of short-lived volatility
interruptions exhibit a magnet effect in times of high-frequency trading. Based on a sample …

We investigate different designs of circuit breakers implemented on European trading
venues and examine their effectiveness to manage excess volatility and to preserve liquidity …

We examine changes in market liquidity around the triggering of US equity market-wide
circuit breakers (MWCBs). The coronavirus pandemic has led to heightened market volatility …