Abstract
The purpose of this paper is to present a critical analysis on the competition between online (ECN) and traditional (Market Maker (MM)) trading on the Nasdaq stock exchange. Online stock trading mechanisms at the exchanges are often a hybrid of dealer and auction markets. Different aspects of trading execution, which is the most commonly used market centre at present, are analysed. This leads to a discussion on: (1) the bath that executes order is organised and (2) its impact on the effective market performance, trading cost and investor behaviour.
| Original language | English |
|---|---|
| Pages (from-to) | 151-170 |
| Number of pages | 20 |
| Journal | International Journal of Electronic Finance |
| Volume | 1 |
| Issue number | 2 |
| DOIs | |
| State | Published - 2006 |
| Externally published | Yes |
Bibliographical note
Publisher Copyright:© 2006 Inderscience Enterprises Ltd.
Keywords
- Critical review
- Market performance
- Nasdaq
- Online
- Trading
- Traditional
ASJC Scopus subject areas
- Finance
- Computer Science Applications
- Computer Networks and Communications
- Management of Technology and Innovation
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