Shawn Strother, T.; Wansley, James W.; Daves, Phillip - In: International Journal of Managerial Finance 5 (2009) 1, pp. 81-109
Purpose – The purpose of this paper is to investigate how quotes originating via electronic communication networks (ECN)s affect trading costs. Design/methodology/approach – In order to investigate the relations between trading costs and quotation venue, the bid‐ask spread is decomposed...