We investigate competition between traditional stock exchanges and new dark trading venues using an important difference in regulatory treatment. Securities and Exchange Commission required minimum pricing increments constrain some stock spreads, causing large limit order queues. Dark pools...

Despite sharing many of the socio-economic and political problems that led to revolutions in other Arab states, the Kingdom of Saudi Arabia experienced little unrest, a fact many in the West attributed to the Kingdom’s closed political system. The absolute monarchy has been viewed as...