Competition on the Nasdaq and the impact of recent market reforms

Article Abstract:

Issues related to the influence post-1997 Securities and Exchange Commission regulations have had on the Nasdaq are examined, focusing on how reforms have increased competition on the Nasdaq. Topics include description of order-handling rules, bid-ask spreads, dealer rents, comparison of trading costs between the New York Stock Exchange and the Nasdaq, market maker entry and exit, and market concentration.

Other Financial Vehicles, Security & commodity services, not elsewhere classified, Stock Quotation Services, Influence, Financial markets, United States. Securities and Exchange Commission, NASDAQ Market System

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The relation between stock market movements and NYSE seat prices

Article Abstract:

Issues related to the economic implications of the prices of seats on the New York Stock Exchange are examined, focusing on the relationship between seat prices and market sentiment. Topics include a model of seat market activity, the conclusions that seat prices cannot forecast future market patterns, the relationship between seat prices and market liquidity, and the subtle information contained in seat prices regarding traders' beliefs in the future of the stock market.

Securities and Commodity Exchanges, Security and commodity exchanges, New York Stock Exchange

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Can managers successfully time the maturity structure of their debt issues?

Article Abstract:

Managers' ability to successfully schedule the maturity of debt issues is examined. Impact of the structural shift on the forecasting of variations in long term bond returns is presented.

Management dynamics, Securities issued, listed, Management, Securities, Managers, Company business management, Company securities, Debt management

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