Symposium on market microstructure: Focus on Nasdaq

• 成果类型: Editorial Material
• 署名作者: Schwert, GW
• 刊物名称: JOURNAL OF FINANCIAL ECONOMICS
• ISSN/ISSBN: 0304-405X
• DOI: 10.1016/S0304-405X(97)00014-7
• 发表日期: 1997
• 页码: 3-8
• 关键词: Market microstructure; NYSE; Nasdaq; Bid-ask spreads

摘要

This special issue of the Journal of Financial Economics includes six articles that analyze the market microstructure of Nasdaq in various ways. The question of the costs of trading on Nasdaq has become contentious in both the academic and legal/regulatory arenas since the Christie and Schultz (1994) article first noted that many actively traded Nasdaq stocks were almost never quoted on odd eighths. The articles in this symposium bring new and interesting insights to this debate.