Abstract:The paper regards the arrival rate as the variable which relates to the market state.The paper investigates the informed and uninformed traders' arrival rate and the influencing factors in the market.It firstly measures the arrival rate of informed and uninformed traders,selecting the data on the Shanghai Security Exchange(SSE) from July 1,2003 to December 31,2003,and employing EKOP model(Easley,Kiefer,O'Hara and Paperman,1996).Then,it investigates how the market characters affect the traders' a...