Booth, G. G.; Iversen, P.; Sarkar, S. K.; Schmidt, H.; … - In: The European Journal of Finance 5 (1999) 1, pp. 51-71
A comparison is made between the bid-ask spreads of 30 high volume German stocks traded on IBIS and 30 high volume US stocks traded on Nasdaq. IBIS and Nasdaq are best described as agency and dealer auction markets, respectively. On average, the market spread for these IBIS and Nasdaq stocks is...