search query: @author Stoll, H. R. / total: 16
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| Author: | Stoll, H. R. |
| Title: | Market Fragmentation |
| Journal: | Financial Analysts' Journal
2001 : JUL-AUG, VOL. 57:4, p. 16-20 |
| Index terms: | MARKETS USA COMPETITION |
| Language: | eng |
| Abstract: | The paper focuses on the fragmentation of markets in the United States. It also considers the views on the harmful effects of market fragmentation by the Securities and Exchange Commission Chairman Arthur Levitt. The article also pays an attention to the importance and extent of the market fragmentation and to the reduction of competition among the markets due to the direct link up of trade markets. The author states that linking of various competing markets should be implemented through improvements in upstairs order routing, not downstairs mechanism. A downstairs market mechanism is not needed and, if it worked effectively, would impede competition. |
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