haku: @author Taylor, N. / yhteensä: 6
viite: 2 / 6
| Tekijä: | Taylor, N. |
| Otsikko: | Competition on the London Stock Exchange |
| Lehti: | European Financial Management
2002 : DEC, VOL. 8:4, p. 399-419 |
| Asiasana: | COMPETITION STOCK EXCHANGES FINANCIAL MANAGEMENT TRADE |
| Kieli: | eng |
| Tiivistelmä: | A fundamental change to the UK equity market occurred when the London Stock Exchange (LSE) introduced the Stock Exchange Electronic Trading Service (SETS). The most important aspect of SETS was the introduction of an order-driven trading system alongside the existing quote- driven trading system. Under the quote-driven system, market makers post firm quotes and quantities on the LSE's Stock Exchange Automatic Quotation (SEAQ) bulletin board and subsequent trades are conducted over the telephone. As traders can choose between the trading systems available on the LSE, it is of interest to investigate why traders choose one trading system in preference to the other. As such, this paper examines the likely determinants of the level of competition on SETS. |
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