into effect of MiFID. Over the last monthly period, i.e. September 2009, order-flow fragmentation reached substantial … primary markets also have good relative price competitiveness. The rise in competition between trading venues has been … the strength of competition, because it is more marked among large caps than among mid caps. The decline has take place at …

The implementation of MiFID has led to a fragmentation of liquidity in European equity trading. We analyze the long …-term effects of MiFID on liquidity with a new sample of Swiss stocks and do not find evidence for a worsening of market quality. In …

specific focus on the European experience. Since the implementation of MiFID1 on 1 November 2007, market fragmentation has …

in Financial Instruments Directive (MiFID) on 1 November 2007. It makes a brief literature review on the consequences of … improved with market fragmentation after MiFID; (2) the price quality of large Euronext equities improved with fragmentation in …