Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: A Tale of Two Consequences: Intended and Unintended Outcomes of the
  Japan TOPIX Tick Size Changes   We look at the effect of the tick size changes on the TOPIX 100 index names
made by the Tokyo Stock Exchange on Jan-14-2014 and Jul-22-2104. The intended
consequence of the change is price improvement and shorter time to execution.
We look at security level metrics that include the spread, trading volume,
number of trades and the size of trades to establish whether this goal is
accomplished. An unintended effect might be the reduction in execution sizes,
which would then mean that institutions with large orders would have greater
difficulty in sourcing liquidity. We look at a sample of real orders to see if
the execution costs have gone up across the orders since the implementation of
this change.
  We study the mechanisms that affect how securities are traded on an exchange,
before delving into the specifics of the TSE tick size events. Some of the
topics we explore are: The Venue Menu and How to Increase Revenue; To Automate
or Not to Automate; Microstructure under the Microscope; The Price of
Connections to High (and Faraway) Places; Speed Thrills but Kills; Pick a Size
for the Perfect Tick; TSE Tick Size Experiments, Then and Now; Sergey Bubka and
the Regulators; Bird`s Eye View; Deep Dive; Possibilities for a Deeper Dive;
Does Tick Size Matter? Tick Size Does Matter!

16
The categories of this paper are: stat
5
The categories of this paper are: gr-qc
9
The categories of this paper are: nlin
32
The categories of this paper are: atom-ph
26
The categories of this paper are: bayes-an
12
The categories of this paper are: nucl-th
20
The categories of this paper are: acc-phys
1
The categories of this paper are: cs
6
The categories of this paper are: astro-ph
31
The categories of this paper are: ao-sci
23
The categories of this paper are: solv-int
24
The categories of this paper are: dg-ga
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The categories of this paper are: adap-org
13
The categories of this paper are: quant-ph
22
The categories of this paper are: chao-dyn
29
The categories of this paper are: funct-an