Abstract
In Japanese financial market, there exists large gap between traded volumes among listed items or securities exchanges. For example, turnover of (TSE) in August, 2005 is 44,548 billion JPY and that of (OSE), the second largest stock market in Japan, in August, 2005 is 2,184 billion JPY. That is, the turnover of OSE is only 5 % of that of TSE. There are many items which are listed on both TSE and OSE, however, most of them are traded at TSE[1][2]. For example, the turnover of TOYOTA on 16/9/2005 is 448, 360 units at TSE on one hand, and that at OSE is only 1 unit on the other hand. While there are items which are traded actively at OSE, traded volumes of most items are very small.
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Matsunaga, T., Kita, H. (2007). A Comparative Study of Order-Driven and Quote-Driven Markets Using Artificial Markets. In: Takahashi, S., Sallach, D., Rouchier, J. (eds) Advancing Social Simulation: The First World Congress. Springer, Tokyo. https://doi.org/10.1007/978-4-431-73167-2_10
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DOI: https://doi.org/10.1007/978-4-431-73167-2_10
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