A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?
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下载链接：
https://www.nber.org/papers/w25855
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资源简介：
Will stock exchanges innovate to address latency arbitrage and the arms race for speed? This paper models how exchanges compete in the modern electronic era and how this shapes incentives for market design innovation. In the status quo, exchange trading fees are competitive while exchanges earn
提供机构：
美国国家经济研究局
创建时间：
2019-05-01
