Market Fragmentation

Financial Analysts Journal

Volumn 57, Issue 4, 2001, Pages 16-20

  Stoll, Hans R ^a  

^a VANDERBILT UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0242557044     PISSN: 0015198X     EISSN: None     Source Type: Journal    
DOI: 10.2469/faj.v57.n4.2461     Document Type: Review

References (14)

1. Department of Justice. 2000. "Comments in the Matter of Proposed Option Market Linkage Plans by the AMSE, CBOE, PCX and Phlx." SEC Exchange Release No. 34-42456, File No. 4-429 (April 5).
2. Engman, Douglas. 2000. Letter to the SEC Commenting on Options Market Linkage Plans of the Options Exchanges in Regard to SEC Release No. 34-42456, File No. 4-429 (March 24).
3. Levitt, Arthur. 1999. "Dynamic Markets, Timeless Principles." Remarks of Chairman Arthur Levitt at Columbia Law School, New York (September 23). Available at www.sec.gov/news/ speech/speecharchive/1999/spch295.htm.
4. _. 2000. "Visible Prices, Accessible Markets, Order Interaction." Remarks of Chairman Arthur Levitt at the Northwestern University School of Law, Evanston, IL (March 16). Available at www.sec.gov/news/speech/spch355.htm.
5. NYSE. 2000. "Market Structure Report of the NYSE Special Committee on Market Structure, Governance and Ownership" (March 23).
6. SEC. 2000a. "Notice of Filing of Proposed Rule Change to Rescind Exchange Rule 390; Commission Request for Comment on Issues Relating to Market Fragmentation." Exchange Release No. 34-42450, File No. SR-NYSE-99-48 (February 23).
7. _. 2000b. "Notice of Filing of Proposed Option Market Linkage Plans by the AMSE, CBOE, PCX and Phlx." Exchange Release No. 34-42456, File No. 4-429 (February 24).
8. _. 2000c. "Fact Sheet: Market Structure Initiatives in the Options Markets" (July 25). Available at www.sec.gov/news/ extra/mfrgfact.htm.
9. _. 2000d. "Disclosure of Order Routing and Execution Practices." Exchange Release No. 34-43084, File No. S7-16-00 (July 28).
10. Smith, Jeffrey W. 1999. "The Role of Quotes in Attracting Orders on the Nasdaq Interdealer Market." NASD working paper (March 25).
11. Stoll, Hans R. 1992. "Principles of Trading Market Structure." Journal of Financial Services Research, vol. 6, no. 1:75-107.
12. _. 1993. "Organization of the Stock Market: Competition or Fragmentation?" Journal of Applied Corporate Finance, vol. 5, no. 4 (Winter):89-93.
13. _. 1998. "Reconsidering the Affirmative Obligation of Market Makers." Financial Analysts Journal, vol. 54, no. 5 (September/October):72-82.
14. Wall Street Journal. 2000. "Sweeping Changes in Market Structure Sought" (February 29).