Zicklin School of Business Financial Markets Series

Competition in a Consolidating Environment

Editors: Schwartz, Robert A., Byrne, John Aidan, Colaninno, Antoinette (Eds.)

  • Latest title in established conference proceedings series; includes bulk sale to Zicklin School at CUNY
  • Addresses such timely topics as the impact of technology on financial markets
  • Includes contributions from prominent academics, policymakers and professionals in the field
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eBook $149.00
price for USA (gross)
  • ISBN 978-0-387-75943-2
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  • Immediate eBook download after purchase
Hardcover $199.00
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  • ISBN 978-0-387-75942-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $199.00
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  • ISBN 978-1-4419-4546-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

Competition between market centers is a driving force for innovation, dynamic growth, and reasonable pricing structures.  Consolidating the order flow amasses liquidity, sharpens price discovery, and lowers trading costs.  Can competition remain vibrant in a consolidated environment?  How does inter-market competition play out with respect to trading decisions and listing decisions?  What will the primary sources of competition be in the future? What impacts will follow from the NYSE's acquisition of Archipelago, and NASDAQ's acquisition of Inet? Will exchanges further consolidate in Europe?  What does consolidation imply about the efficient use of technology, the effective handling of institutional order flow, and overall market quality? These are some of the questions that were addressed at the conference and elaborated on in this book.

The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

About the authors

Robert A. Schwartz is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. Before joining the Baruch faculty in 1997, he was Professor of Finance and Economics and Yamaichi Faculty Fellow at New York University's Leonard N. Stern School of Business, where he had been a member of the faculty since 1965. Professor Schwartz received his Ph.D. in Economics from Columbia University. His research is in the area of financial economics, with a primary focus on the structure of securities markets. He has published over 50 refereed journal articles and fifteen books, including The Equity Trader Course (co-authored with Reto Francioni and Bruce Weber) Wiley & Sons, 2006, Equity Markets in Action: The Fundamentals of Liquidity, Market Structure and Trading (co-authored with Reto Francioni) Wiley & Sons, 2004, and Reshaping the Equity Markets: A Guide for the 1990s, Harper Business, 1991 (reissued by Business One Irwin, 1993). He has served as a consultant to various market centers including the New York Stock Exchange, the American Stock Exchange, Nasdaq, the London Stock Exchange, Instinet, the Arizona Stock Exchange, Deutsche Börse, and the Bolsa Mexicana. From April 1983 to April 1988, he was an associate editor of The Journal of Finance, and he is currently an associate editor of the Review of Quantitative Finance and Accounting, the Review of Pacific Basin Financial Markets and Policies, and The Journal of Entrepreneurial Finance & Business Ventures, and is a member of the advisory boards of International Finance and The Journal of Trading. In December 1995, Professor Schwartz was named the first chairman of Nasdaq's Economic Advisory Board, and he served on the EAB until Spring 1999. He is developer, with Bruce Weber, of the trading and market structure simulation, TraderEx (http://www.etraderex.com/).

Table of contents (8 chapters)

  • Life After the Big Board Goes Electronic1

    Davis, Paul (et al.)

    Pages 1-12

  • Dialog with Reto Francioni

    Francioni, Reto (et al.)

    Pages 1-5

  • Global Winds of Change

    Pagano, Michael (et al.)

    Pages 7-20

  • Intermarket Competition: Trading Decisions

    Pisani, Bob (et al.)

    Pages 21-36

  • Intermarket Competition: Listing Decisions

    Selway, Jamie (et al.)

    Pages 37-52

Buy this book

eBook $149.00
price for USA (gross)
  • ISBN 978-0-387-75943-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $199.00
price for USA
  • ISBN 978-0-387-75942-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $199.00
price for USA
  • ISBN 978-1-4419-4546-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Competition in a Consolidating Environment
Editors
  • Robert A. Schwartz
  • John Aidan Byrne
  • Antoinette Colaninno
Series Title
Zicklin School of Business Financial Markets Series
Copyright
2008
Publisher
Springer US
Copyright Holder
Springer-Verlag US
eBook ISBN
978-0-387-75943-2
DOI
10.1007/978-0-387-75943-2
Hardcover ISBN
978-0-387-75942-5
Softcover ISBN
978-1-4419-4546-4
Edition Number
1
Number of Pages
XV, 128
Topics