The Organization of Financial Exchange Markets: Theory and Evidence.

This article presents theory and evidence regarding the organization of financial exchange markets. It derives conditions under which (1) a member-owned exchange has a monpoly over the trade of a particular financial contract and its close substitutes, and (2) exchange members earn economic rents.

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Year of publication:	1998
Authors:	Pirrong, S.C.
Institutions:	Business Law and Economics Center, Olin School of Business
Subject:	FINANCIAL MARKET

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Series:	Washington University.
Type of publication:	Book / Working Paper
Notes:	41 pages
Classification:	G10 - General Financial Markets. General ; G18 - Government Policy and Regulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005625669