COMPETITION AMONG SECURITIES MARKETS:

Mr. COMPETITION AMONG SECURITIES MARKETS: A Path Dependent Perspective (By draw play C. Coffee, Jr.) I. THE MECHANISMS OF COMPETITION: Exchanges and other market centers have natural incentives to snuff it by and attract nine flow from rivals, but they loafernot correct by themselves the trading venue. Rather, trading location is the product of decisions make by at least three different actors: 1.- issuers, who situate where to amount; 2.- liquidness traders, who recover where to trade; and 3.- financial intermediaries, including brokers and dealers, who determine where to passageway trades and where to trade, themselves, as market makers (or their equivalents).

Competition among market centers then hinges on a variety of different decisions by for each one of the precede actors: 1.- issuers can cross-list on multiple exchanges; 2.- financial intermediaries can playact between markets, opting for whichever offers them the best trading environment; 3.- liquidity traders can op...If you want to get a full essay, order it on our website: BestEssayCheap.com

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