Larrymore, Norris L.; Murphy, Albert J. - In: Journal of Financial Research 32 (2009) 3, pp. 337-363
<heading id="h1" level="1" implicit="yes" format="display">Abstract</heading>We explore the relation between market quality and internalization through a pre- and postenactment analysis of the implementation of the Toronto Stock Exchange (TSE) Price Improvement Rule on October 26, 1998. We find that the rule revision is accompanied by falls in the bid-ask spread...