On rules versus discretion in procedures to halt trade

Article Abstract:

Trading halts are employed to prevent stock market crises. After the 1987 stock market crash, various impediments to trade have been instituted to prevent the repetition of the market crisis. These impediments include market-wide circuit breakers, futures market price limits and firm-specific discretionary trading halts. Compared to a price-triggered circuit breaker, a discretionary halt offers more advantages since it is less affected by traders' decision to speed up orders.

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Multi-market trading and the informativeness of stock trades: an empirical intraday analysis

Article Abstract:

Over-the-counter trading and trading in regional and secondary exchanges tend to be less informative than that on established exchanges. The study seeks to characterize the form and effect of competition between regional exchanges and established markets and results support the hypothesis that regional exchanges like the NYSE/AMEX draw smaller, less informative acquisitions form the established markets.

Over-the-counter markets, Over the counter markets

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Fraud and financial markets: the 1997 collapse of the junior mining stocks

Article Abstract:

A study into the causes of the decline of Canadian junior mining stocks in 1997 and the influence, on the industry, of the fraudulent claims made by BR-X Minerals is presented.

Police Protection, Mining & Extractive Industries, Mining, Fraud, Canada, Finance, Mining industry, Investigations, Gold industry, Crime, Mineral deposits, Mines and mineral resources, Bre-X Minerals

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