Quantitative Trading Research Overview
CitationsTitle & YearAuthorsDistilled Key Insights759Does Algorithmic Trading Improve Liquidity? (2011)Hendershott, T. et al. Causal Impact Analysis: Uses the 2003 NYSE automation shift as an exogenous instrument to prove Algorithmic Trading (AT) causally improves market quality. Key Findings: AT narrows spreads, reduces adverse selection, and increases quote informativeness, particularly for