Thomas Ernst

Assistant Professor of Finance Robert H. Smith School of Business University of Maryland ternst@umd.edu CV

Publications

Would Order-By-Order Auctions Be Competitive? - with Chester Spatt and Jian Sun.

Forthcoming at the Journal of Finance

Working Papers

The Value of Off-Exchange Data - with Chester Spatt and Jonathan Sokobin.

Revise and Resubmit at the Review of Financial Studies

Payment for Order Flow and Option Internalization - with Chester Spatt.

Revise and Resubmit at the Review of Financial Studies

Why Did Retail Liquidity Programs Fail? - with Chester Spatt and Jian Sun.

What Does Best Execution Look Like? - with Andrey Malenko, Chester Spatt, and Jian Sun.

Stock Specific Price Discovery From ETFs

Online Appendix