Paying for Market Liquidity:

Competition and Incentives

Discussion by KATYA MALINOVA

MARIO BELLIA, LORIANA PELIZZON,

MARTI G. SUBRAHMANYAM, and DARYA YUFEROVA

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Paying for Market Liquidity: Competition and Incentives Discussion by KATYA MALINOVA MARIO BELLIA, LORIANA PELIZZON, MARTI G. SUBRAHMANYAM, and DARYA YUFEROVA