Latency, liquidity and price discovery ☆

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How researchers see this paper

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The Economics of High-Frequency Trading: Taking Stock (2016, background): “Riordan & Storkenmaier (2012) find a lower spread after a speed upgrade, but only for small stocks.”
Low-latency trading $ (2013, unknown): “However, Riordan and Storkenmaier (2012) find that a reduction in latency (from 50 to 10 ms) on the Deutsche Boerse’ Xetra system is associated with improved liquidity.”
Micro-price trading in an order-driven market (2014, background): “Riordann and Storkenmaier report decreased spreads resulting from reduction in latency at the Deutsche Boerse [23].”
High Frequency Quoting, Trading, and the Efficiency of Prices (2015, background): “For example, Menkveld (2012) examines the effect of the introduction of an electronic exchange (including a large HFT) on trading in a sample of 32 Dutch stocks, and Riordan and Storkenmaier (2012) examine the effect of an upgrade of trading systems in 98 stocks on the Deutsche Borse.”