From the Archives: Measuring the 15-Microsecond Dash with Professor Eric “Batch” Budish
Boxes and Lines
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The Speed of Races in the UK Stock Market
New statistics quantify how likely would it be that the typical large cap stock in the UK stock market, there was about a race per minute over the course of the trading day. The sheer quantity of trading volume that took place in races, that was a surprise. It's just a huge, I mean, asset pricing, finance, researchers get confused like, why is there so much trading volume, but 20 to 40% of these little races?
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