The implementation of MiFID lead to fragmentation of trading in European equities. We analyze information processing for a sample of Swiss stocks on the Swiss exchange and on Chi-X, the largest multilateral trading facility. According to Hasbrouck information shares, the determination of a...

Despite their growing importance in recent years, delistings of secondary listings have received very little attention. This article investigates whether a delisting is accompanied by any price or volume effects on the company's primary exchange. We apply a standard event study methodology to...

To enhance transparency of performance measurement and presentation, the Swiss Performance Presentation Standards were installed. Based on a sample of Swiss equity funds, the author shows empirically that the SPPS are not able to achieve their aims. The risk-adjusted performance figures are not...