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Informed Trading and Maker-Taker Fees in a Low-Latency Limit Order Market

https://doi.org/10.2139/ssrn.2178102
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28/28 checkable references clean · checked 2026-08-04

Every reference with a DOI in the deposited reference list resolved to a known work in Crossref or DataCite at the dated check, and none carried a retraction, withdrawal, or removal notice.

5 without a DOI — not checked. A reference deposited without a DOI is never matched by title or guessed at; it stays outside the checked set, and this line discloses that.

The 28 checked references that resolve
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Equity Trading in the 21<sup>st</sup> Century
resolves10.3982/ecta10018
Strategic Liquidity Provision in Limit Order Markets
resolves10.2139/ssrn.2278457
Fleeting Orders
resolves10.1016/s1386-4181(00)00015-x
A simple model of payment for order flow, internalization, and total trading cost
resolves10.2139/ssrn.1954119
To Pay or Be Paid? The Impact of Taker Fees and Order Flow Inducements on Trading Costs in U.S. Options Markets
resolves10.2139/ssrn.1007274
Why Designate Market Makers? Affirmative Obligations and Market Quality
resolves10.1093/rfs/hhs089
Trading Fees and Efficiency in Limit Order Markets
resolves10.2139/ssrn.2023597
Internalization, Clearing and Settlement, and Liquidity
resolves10.1016/0304-405x(87)90029-8
Price, trade size, and information in securities markets
resolves10.1016/s1386-4181(98)00012-3
Order flow composition and trading costs in a dynamic limit order market
resolves10.2139/ssrn.2188822
News Trading and Speed
resolves10.1093/rfs/hhi029
Limit Order Book as a Market for Liquidity
resolves10.1111/j.1540-6261.2012.01801.x
Liquidity Cycles and Make/Take Fees in Electronic Markets
resolves10.1016/0304-405x(85)90044-3
Bid, ask and transaction prices in a specialist market with heterogeneously informed traders
resolves10.1111/j.1540-6261.2005.00795.x
Equilibrium in a Dynamic Limit Order Market
resolves10.1016/j.finmar.2013.05.009
The diversity of high-frequency traders
resolves10.2139/ssrn.1944056
A Dynamic Limit Order Market with Fast and Slow Traders
resolves10.2139/ssrn.2236201
What Do We Know About High-Frequency Trading?
resolves10.1111/0022-1082.00098
Payments for Order Flow on Nasdaq
resolves10.1086/503651
So What Orders Do Informed Traders Use?*
resolves10.2307/1913210
Continuous Auctions and Insider Trading
resolves10.1111/jofi.12230
Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality
resolves10.2139/ssrn.1924991
Strategic Liquidity Supply in a Market with Fast and Slow Traders
resolves10.1016/0022-0531(82)90046-1
Information, trade and common knowledge
resolves10.1093/rfs/11.4.789
Price Dynamics in Limit Order Markets
resolves10.1016/s0304-405x(03)00071-0
Payment for order flow
resolves10.1016/b978-044451558-2.50007-6
Limit Order Markets: A Survey
resolves10.2139/ssrn.2019084
Identifying Cross-Sided Liquidity Externalities
The 5 references without a DOI — listed, not checked
no DOI — not checkedIncentives for liquidity provision: Is the make-take structure the answer?
no DOI — not checkedref8
no DOI — not checkedConsultation report: Regulatory issues raised by the impact of technological changes on market integrity and efficiency, Discussion paper
no DOI — not checkedLiquidity and information in order driven markets
no DOI — not checkedref32
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