Federal ID: 91-6001537
ISSN: 0022-1090 (Print) | 1756-6916 (Online)
The Demise of the NYSE and Nasdaq: Market Quality in the Age of Market Fragmentation
Peter Haslag and Matthew C. Ringgenberg ♦ U.S. equity exchanges have experienced a dramatic increase in competition from new entrants, resulting in the fragmentation of trading across venues. While market quality has generally improved over this period, we show most of…