As of March 2024, the largest stock exchange in Europe was the Euronext, with a total market capitalization of around 7.2 trillion U.S. dollars. Euronext was formed in 2000, and is a pan-European stoc

www.statista.com190

A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?

股票交易所

市场设计创新

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 d