-based trading systems. …

systems. Electronic trading systems do offer lower operating costs and the possiblilty of remote access to the market. On the … other hand, arguments based on the anonymity of electronic trading systems suggest that adverse selection may be a more … in floor and computerized trading systems empirically. In Germany, floor and screen trading for the same stocks exist in …

trading systems since 1994. We show that these exchanges have converged to a similar market organization. In this organization … the remaining differences between the trading systems, in particular with respect to the consolidation of the order flow …

"Auction" or "call" trading systems are used in many stock exchanges. An essential problem in the application of these …

volatility for both carbon tax and cap-and-trade schemes (also known as emission trading systems). Our work finds strong evidence …