This paper studies the effects of the introduction of the French financial transaction tax in
August 2012. With the tax, the French government aims to generate revenues for financing …

Both fairness and efficiency are important considerations in market design and regulation,
yet many regulators have neither defined nor measured these concepts. We develop an …

Technological innovations such as high frequency trading systems (HFT) and algorithmic
trading systems have changed financial markets. We discuss technological and economic …

We investigate the effects of fragmentation in equity markets on the quality of trading
outcomes in a panel of FTSE stocks over the period 2008–2011. This period coincided with …

This paper studies the impact of public information on trading and market fragmentation in
FTSE 100 stocks on the LSE and on Chi-X, the largest multilateral trading facility in Europe …

The Task Force aimed to shed new light on the main aspects of the Markets in Financial
Instruments Directive (MiFID), drawing on the vast practical experience of the Task Force …

Securities trading underwent a major transformation within the last decade. This
transformation was mainly driven by the regulatory induced fragmentation and by the …

The equity trading landscape all over the world has changed dramatically in recent years.
We have witnessed the advent of new trading venues and significant changes in the market …

Several international electronic primary financial exchanges have begun to announce they
will explore the adoption of blockchain technology in their trade processing and reporting for …

Depuis le déchaînement de la crise, l'organisation des transactions boursières n'a pas
vraiment fait l'objet de velléités réformatrices. Pourtant, les opportunités spéculatives …