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Broker colocation and the execution costs of customer and proprietary orders (Working Paper)

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| || | || | || | ||  | \| ||  |  ___||  |  _ \\   \ \\/ // 
| '--' || | || | ||  |  ' ||  | ||__    | |_| ||   \ ` //  
| .--. || | \\_/ ||  | .  ||  | ||__    | .  //     | ||   
|_|| |_||  \____//   |_|\_||  |_____||  |_|\_\\     |_||   
`-`  `-`    `---`    `-` -`   `-----`   `-` --`     `-`'
 


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