International competition between stock exchanges

Competition between exchanges : Euronext versus

Exchanges in Europe are in a process of consolidation. After the failure of the proposed merger between Deutsche Börse and Euronext, these two groups are likely to become the nuclei for further mergers and co-operation with currently independent exchanges. A decision for one of the groups entails a decision for the respective trading platform. Against that background we evaluate the attractiven...

competition and integration among stock exchanges: competition and stock exchange law conflict

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Competition between Exchanges: A Research Agenda

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...

International Competition Policy: Information Sharing Between National Competition Authorities

Using a common agency relationship where the agent has private information about its costs, I study the impact of the introduction of an information system that obliges each national competition authority to give information about the …rms it has prosecuted when requested by another competition authority. I identify the conditions under which an "information-sharing system" is bene…cal for each...

Stock Exchanges and Issuers: A Changing Relationship