![Financial markets / Algorithmic trading / Market maker / Bidask spread / Payment for order flow / Market liquidity / Order / Stock market / NASDAQ / Electronic trading / Market timing / Electronic communication network Financial markets / Algorithmic trading / Market maker / Bidask spread / Payment for order flow / Market liquidity / Order / Stock market / NASDAQ / Electronic trading / Market timing / Electronic communication network](https://www.pdfsearch.io/img/a3f880791414db3e831abc2bafdca4e4.jpg) Date: 2009-11-03 05:27:26Financial markets Algorithmic trading Market maker Bidask spread Payment for order flow Market liquidity Order Stock market NASDAQ Electronic trading Market timing Electronic communication network | | Liquidity Cycles and Make/Take Fees in Electronic Markets∗ Ohad Kadan Olin Business School Washington University in St. Louis Campus Box 1133, 1 Brookings Dr.
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