Competition between exchanges: A research agenda
This paper describes open research questions related to the competition and market structure of financial exchanges and argues that only a combination of industrial organization and finance can satisfactorily attack these questions. Two examples are discussed to illustrate how the combination of the...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Elsevier
2017
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| Online Access: | http://hdl.handle.net/1721.1/108264 |
| _version_ | 1826206925905199104 |
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| author | Cantillon, Estelle Yin, Pai-Ling |
| author2 | Sloan School of Management |
| author_facet | Sloan School of Management Cantillon, Estelle Yin, Pai-Ling |
| author_sort | Cantillon, Estelle |
| collection | MIT |
| description | This paper describes open research questions related to the competition and market structure of financial exchanges and argues that only a combination of industrial organization and finance can satisfactorily attack these questions. Two examples are discussed to illustrate how the combination of these two approaches can significantly enrich the analysis: the “network externality puzzle”, which refers to the question of why trading for the same security is often split across trading venues, and the impact of the multi-sided character of financial exchanges on pricing and profitability. |
| first_indexed | 2024-09-23T13:40:45Z |
| format | Article |
| id | mit-1721.1/108264 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T13:40:45Z |
| publishDate | 2017 |
| publisher | Elsevier |
| record_format | dspace |
| spelling | mit-1721.1/1082642022-10-01T16:29:31Z Competition between exchanges: A research agenda Cantillon, Estelle Yin, Pai-Ling Sloan School of Management Yin, Pai-Ling Yin, Pai-Ling This paper describes open research questions related to the competition and market structure of financial exchanges and argues that only a combination of industrial organization and finance can satisfactorily attack these questions. Two examples are discussed to illustrate how the combination of these two approaches can significantly enrich the analysis: the “network externality puzzle”, which refers to the question of why trading for the same security is often split across trading venues, and the impact of the multi-sided character of financial exchanges on pricing and profitability. 2017-04-19T18:26:19Z 2017-04-19T18:26:19Z 2010-12 Article http://purl.org/eprint/type/JournalArticle 0167-7187 http://hdl.handle.net/1721.1/108264 Cantillon, Estelle and Yin, Pai-Ling. “Competition Between Exchanges: A Research Agenda.” International Journal of Industrial Organization 29, no. 3 (May 2011): 329–336. © 2010 Elsevier B.V. en_US http://dx.doi.org/10.1016/j.ijindorg.2010.12.001 International Journal of Industrial Organization Creative Commons Attribution-NonCommercial-NoDerivs License http://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf Elsevier Prof. Yin via Alex Caracuzzo |
| spellingShingle | Cantillon, Estelle Yin, Pai-Ling Competition between exchanges: A research agenda |
| title | Competition between exchanges: A research agenda |
| title_full | Competition between exchanges: A research agenda |
| title_fullStr | Competition between exchanges: A research agenda |
| title_full_unstemmed | Competition between exchanges: A research agenda |
| title_short | Competition between exchanges: A research agenda |
| title_sort | competition between exchanges a research agenda |
| url | http://hdl.handle.net/1721.1/108264 |
| work_keys_str_mv | AT cantillonestelle competitionbetweenexchangesaresearchagenda AT yinpailing competitionbetweenexchangesaresearchagenda |