Katya Malinova

McMaster University - Michael G. DeGroote School of Business

1280 Main Street West

Hamilton, Ontario L8S 4M4

Canada

  • McMaster University - Michael G. DeGroote School of Business

SCHOLARLY PAPERS

18

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14,744

TOTAL CITATIONS
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SSRN RANKINGS

Top 6,167

in Total Papers Citations

204

Scholarly Papers (18)

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1.

Market Design with Blockchain Technology

Number of pages: 40 Posted: 30 May 2016 Last Revised: 27 Jul 2017
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 3,435 (7,415)
Citation 11

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market design, trading, blockhchain, distributed ledger, transparency

2.

Do Retail Investors Suffer from High Frequency Traders?

Number of pages: 52 Posted: 06 Dec 2012 Last Revised: 11 Jan 2018
Katya Malinova, Andreas Park and Ryan Riordan
McMaster University - Michael G. DeGroote School of Business, University of Toronto and Queen's University - Smith School of Business
Downloads 2,412 (12,975)
Citation 60

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high frequency trading, message tax, market quality, retail traders

3.

Tokenomics: When Tokens Beat Equity

Number of pages: 53 Posted: 02 Dec 2018 Last Revised: 02 Jun 2023
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 2,323 (13,786)
Citation 31

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blockchain, cryptoeconomics, ICO, FinTech, coin offerings, capital structure, optimal contracts, moral hazard, cryptocurrency, tokens

4.

Learning from DeFi: Would Automated Market Makers Improve Equity Trading?

Number of pages: 58 Posted: 07 Aug 2023 Last Revised: 28 May 2024
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 1,030 (47,211)
Citation 4

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automated market makers, blockchain, defi, decentralized finance, trading, microstructure, equity trading, trading costs

5.

Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality

Downloads 938 (53,786)
Citation 38

Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality

Journal of Finance, Forthcoming
Number of pages: 44 Posted: 28 Apr 2011 Last Revised: 11 Jan 2018
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 431 (143,608)
Citation 6

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Liquidity credits, market quality, trading, make/take fees, maker-taker, rebates, bid-ask spread

Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality

Journal of Finance, Forthcoming, AFA 2012 Chicago Meetings Paper
Number of pages: 44 Posted: 21 Mar 2011 Last Revised: 10 Sep 2014
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 358 (177,359)
Citation 8

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Liquidity credits, market quality, trading, make/take fees, maker-taker, rebates, bid-ask spread

Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality

Journal of Finance, Forthcoming, Paris December 2011 Finance Meeting EUROFIDAI - AFFI
Number of pages: 44 Posted: 14 Oct 2011 Last Revised: 10 Sep 2014
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 149 (419,675)
Citation 24

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Liquidity credits, market quality, trading, make/take fees, maker-taker, rebates, bid-ask spread

6.

Regulating Dark Trading: Order Flow Segmentation and Market Quality

FIRN Research Paper No. 2755392
Number of pages: 50 Posted: 31 Mar 2016 Last Revised: 10 Jun 2017
Carole Comerton-Forde, Katya Malinova and Andreas Park
University of Melbourne - Department of Finance, McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 699 (79,759)
Citation 14

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dark trading, high frequency trading, retail investors, trade-at rule, price improvement, segmentation, internalization

7.

Dark Trading on Public Exchanges

Number of pages: 45 Posted: 03 Dec 2012 Last Revised: 23 Feb 2013
Sean Foley, Katya Malinova and Andreas Park
Macquarie University, McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 643 (88,727)
Citation 10

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dark trading, midpoint orders, limit order book trading

8.

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

Number of pages: 49 Posted: 20 Nov 2012 Last Revised: 09 Nov 2020
Michael Brolley and Katya Malinova
Wilfrid Laurier University - Lazaridis School of Business and Economics and McMaster University - Michael G. DeGroote School of Business
Downloads 636 (90,015)
Citation 17

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Maker-Taker Fees, Informed Trading, Low-Latency Trading, Limit Order Book

9.

Liquidity, Volume and Price Efficiency: The impact of order vs. Quote Driven Trading

Downloads 480 (127,706)
Citation 2

Liquidity, Volume and Price Efficiency: The impact of order vs. Quote Driven Trading

Journal of Financial Markets, Forthcoming
Number of pages: 39 Posted: 17 Mar 2010 Last Revised: 29 Jul 2012
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 274 (236,410)

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market microstructure, trading volume, liquidity, dealer market, limit order book

Liquidity, Volume and Price Efficiency: The Impact of Order vs. Quote Driven Trading

EFA 2009 Bergen Meetings Paper
Number of pages: 39 Posted: 19 Feb 2009 Last Revised: 30 Jul 2012
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 206 (313,558)
Citation 2

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order and quote driven trading, dealer market, execution costs

10.

Tokenized Stocks for Trading and Capital Raising

Number of pages: 59 Posted: 25 Feb 2023
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 440 (143,209)

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blockchain, asset tokenization

11.

The Impact of Competition and Information on Intraday Trading

Number of pages: 39 Posted: 01 Feb 2008 Last Revised: 10 Jan 2014
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 361 (177,335)
Citation 2

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Trading, Market Participation, Intraday Patterns, Heterogeneous Information

12.

Economics of Technology, Securities and Capital Markets

Number of pages: 48 Posted: 10 Oct 2019
Katya Malinova
McMaster University - Michael G. DeGroote School of Business
Downloads 355 (180,625)

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FinTech, digital transformation, blockchain, distributed ledgers, ICOs, machine learning, artificial intelligence, high-frequency trading

13.

Informed Liquidity Provision in a Limit Order Market

Journal of Financial Markets, volume 52, 2021[10.1016/j.finmar.2020.100566]
Number of pages: 44 Posted: 03 Jan 2018 Last Revised: 20 Jan 2025
Michael Brolley and Katya Malinova
Wilfrid Laurier University - Lazaridis School of Business and Economics and McMaster University - Michael G. DeGroote School of Business
Downloads 288 (226,051)
Citation 15

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Limit Order Book, Informed Trading, Transaction Costs, Low-Latency Trading

14.

'Sniping' in Fragmented Markets

Number of pages: 46 Posted: 20 May 2020
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 244 (267,553)

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Sniping, Microstructure, High-Frequency Trading, Market Making

15.

Why Allow Internalization?

Number of pages: 44 Posted: 30 Jul 2012
Katya Malinova
McMaster University - Michael G. DeGroote School of Business
Downloads 204 (317,816)

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internalization, transparency, limit order book, price discovery, liquidity

16.

Liquidity Provision Under Flat Commissions in a Maker-Taker World

Number of pages: 65 Posted: 03 Dec 2020 Last Revised: 05 Aug 2022
Michael Brolley and Katya Malinova
Wilfrid Laurier University - Lazaridis School of Business and Economics and McMaster University - Michael G. DeGroote School of Business
Downloads 188 (342,639)

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Maker-taker fee, liquidity, limit order book

17.

Snowbirds in Securities Trading: Canadian Brokers' U.S.-Bound Order Routing

Number of pages: 42 Posted: 04 Mar 2020
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto
Downloads 68 (716,291)

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cross-listed securities, cross-market trading, microstructure

18.

Trading Volume in Dealer Markets

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Posted: 06 May 2009
Katya Malinova and Andreas Park
McMaster University - Michael G. DeGroote School of Business and University of Toronto

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market microstructure, trading volume, liquidity