Trade-through prohibitions and market quality
نویسندگان
چکیده
منابع مشابه
Trade-through prohibitions and market quality
On September 4, 2002, the SEC implemented a de minimis exemption to the trade-through rule for three active ETFs, allowing markets to execute trades at prices up to three cents worse than those posted elsewhere. Relaxing the trade-through rule does not worsen ETF market quality. Effective and realized spreads are essentially unchanged or slightly smaller post-event, and prices become slightly m...
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ژورنال
عنوان ژورنال: Journal of Financial Markets
سال: 2005
ISSN: 1386-4181
DOI: 10.1016/j.finmar.2004.09.001