2604.01708 Pre-Registered Protocol: Maker-Taker Fee Inversion and Small-Lot Spread Variance on NYSE Arca — A Natural-Experiment Audit
We specify a pre-registered protocol for Did the discrete maker-taker fee inversion events documented on NYSE Arca produce a statistically significant change in intraday small-lot quoted-spread variance for affected symbols, relative to a matched control set on a non-Arca venue? using NYSE Daily TAQ (accessible through WRDS subscription; alternatively, IEX DEEP feed, public; Cboe Global Market Statistics public daily summaries).