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Competition/fragmentation in equities markets : a literature survey
Gomber, Peter; Sagade, Satchit; Theissen, Erik; Weber, … - 2013
fragmentation, as well as the resulting implications for investors' welfare. We start with the literature that views exchanges as …
Persistent link: https://www.econbiz.de/10010226582
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Competition between equity markets : a review of the consolidation versus fragmentation debate
Gomber, Peter; Sagade, Satchit; Theissen, Erik; Weber, … - 2016
of all investors. Fragmentation of the marketplace can be seen as a direct outcome of this heterogeneity. In this article … fragmentation, the resulting implications for liquidity and price efficiency, and the role for public policy. Beyond the concerns …
Persistent link: https://www.econbiz.de/10012061046
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Competition between equity markets : a review of the consolidation versus fragmentation debate
Gomber, Peter; Sagade, Satchit; Theißen, Erika; Weber, … - In: Journal of economic surveys 31 (2017) 3, pp. 792-814
Persistent link: https://www.econbiz.de/10011757885
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Is competition beneficial? : the case of exchange traded funds
Kharma, Céline; Delalay, Sylvain - In: Essays on exchange traded funds, market quality and …, (pp. 1-35). 2018
The first paper is co-authored with Sylvain Delalay. We examine the impact of competition between ETFs on measures of market quality of the funds. The surge in new ETF creation has for consequence that groups of competing ETFs are increasingly crowded, and investors can choose from a multitude...
Persistent link: https://www.econbiz.de/10011962532
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Competition in NYSE-listed stocks : do investors benefit from highly competitive markets?
Yang, Hsiao-Fen; Krueger, Thomas M. - In: Economics, management and financial markets 11 (2016) 2, pp. 27-58
Persistent link: https://www.econbiz.de/10011814007
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Is competition beneficial? : the case of exchange traded funds
Kharma, Céline; Eugster, Nicolas - In: International review of financial analysis 76 (2021), pp. 1-15
Persistent link: https://www.econbiz.de/10012805036
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Heterogeneity and competition in fragmented markets : fees vs speed
Penalva, José; Tapia, Mikel - In: Applied mathematical finance 28 (2021) 2, pp. 143-177
Persistent link: https://www.econbiz.de/10013171063
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Does inter-market competition lead to less regulation?
Draus, Sarah - 2010
This paper presents a model to analyze the consequences of competition in order-flow between a profit maximizing stock exchange and an alternative trading platform on the decisions concerning trading fees and listing requirements. Listing requirements, set by the exchange, provide public...
Persistent link: https://www.econbiz.de/10010303703
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The impact of fragmentation, exchange fees and liquidity provision on market quality
Aitken, Michael J.; Chen, Haoming; Foley, Sean - In: Journal of empirical finance 41 (2017), pp. 140-160
Persistent link: https://www.econbiz.de/10011746967
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A tale of one exchange and two order books : effects of fragmentation in the absence of competition
Bernales, Alejandro; Garrido, Nicolás; Sagade, Satchit; … - 2018 - This version: October 2018
. We study the effects of such fragmentation on market performance using a dynamic model where agents trade strategically … book. Our results suggest that competition in market design, not fragmentation, drives previously documented improvements … in market quality when new trading venues emerge; in the absence of such competition, market fragmentation is harmful. …
Persistent link: https://www.econbiz.de/10011919746