Electronic Communication Networks and Liquidity on the NASDAQ

This paper examines the growth of electronic communication networks (ECNs) and their impact on the liquidity of Nasdaq stocks. I find that the recent growth of trading through ECNs has resulted in tighter bid-ask spreads, greater depths, and less concentrated markets. Overall, our results support the hypothesis that electronic communication networks have improved Nasdaq liquidity

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Year of publication:	[2004]
Authors:	Weston, James P.
Publisher:	[2004]: [S.l.] : SSRN
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Notes:	In: Journal of Financial Services Research, Vol. 22, Nos. 1&2, August/October 2002 Volltext nicht verfügbar
Source:	ECONIS - Online Catalogue of the ZBW

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