SIZE PRECEDENCE AND SHARE VOLUME: THE CASE OF THE PSX EXCHANGE
Most equity exchanges operate with a price-time priority market structure. Using a natural experiment, this study examines the ability of an exchange to attract share volume when size is the secondary precedence rule. In 2010, the NASDAQ OMX Group, Inc. and the Philadelphia Exchange launched the PSX...
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| Format: | Article |
| Language: | English |
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World Scientific Publishing
2020-12-01
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| Series: | Journal of Financial Management, Markets and Institutions |
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| Online Access: | http://www.worldscientific.com/doi/epdf/10.1142/S2282717X20500048 |