Competition between exchanges : A research agenda

  title={Competition between exchanges : A research agenda},
  author={Estelle Cantillon and Pai-Ling Yin},
The financial exchange industry has undergone profound changes in the past 20 years. On the technological front, advances in telecommunications and computer power have changed the economics of the business entirely by offering new ways to make markets, greater speed of dissemination of financial information, greater access to exchanges from anywhere in the world, new interfaces allowing traders to route their orders where most profitable and algorithmic trading. On the governance front, most… CONTINUE READING

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