Topics: - Competition for order, clearing and settlement flows - Competition and interaction between OTC and exchange markets - Consolidation vs. fragmentation effects in trading, clearing and settlement - Liquidity formation and resilience in OTC and exchange markets - Implications of clearing...

The aim of the conference is to shed light on all aspects of the industrial organization of securities markets. This not only includes trading but also clearing and settlement services, and both cash and derivative markets. The submission of both theoretical and empirical papers in the following...

The submission of both theoretical and empirical papers in the following fields is especially encouraged: - Competition for order, clearing and settlement flows - Consolidation vs. fragmentation effects at the various levels along the value chain - Importance of liquidity effects - Existence and...