Impact of volume spread accross venues

J

Jonathan Weissberg

I'm curious if anyone has given any thought to or observed how a product that trades across multiple venues (the Euro) trades differently than one where volume is concentrated at one venue (an ASX stock)?

One impact I can think of (in the short-term, within the day) is order flow that is much more difficult to read, e.g., constant hits down into the bids but a grind up all day.

Is there anything else that's significance? Keen to discuss if you've observed or seen a market evolve from concentrated volume to dispersed volume or vice versa.
 
Jonathan Weissberg said:
I'm curious if anyone has given any thought to or observed how a product that trades across multiple venues (the Euro) trades differently than one where volume is concentrated at one venue (an ASX stock)?

One impact I can think of (in the short-term, within the day) is order flow that is much more difficult to read, e.g., constant hits down into the bids but a grind up all day.

Is there anything else that's significance? Keen to discuss if you've observed or seen a market evolve from concentrated volume to dispersed volume or vice versa.
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YES;
smaller volume, with larger bid/ ask is a bit harder to read.AND anytime something is less smooth its harder to read+ easier to be wrong when the trend does change/but in some cases its worth it.[US stocks/ cash + leveraged ETFs]
 
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