Competition among Exchanges and Enforcement Policy /

Competition among Exchanges and Enforcement Policy /

In this paper, we explore how competition among stock exchanges, operated as self-regulatory organizations (SROs), affects the design of their members' surveillance. We develop a model where two for-profit SROs compete for trading volume, while brokers execute transactions on behalf of the inve...

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Bibliografiske detaljer
Hovedforfatter:	Caglio, Cecilia
Andre forfattere:	Pescatori, Andrea
Format:	Tidsskrift
Sprog:	English
Udgivet:	Washington, D.C. : International Monetary Fund, 2013.
Serier:	IMF Working Papers; Working Paper ; No. 2013/037
Fag:	Cash Flow Expected Return WP
Online adgang:	Full text available on IMF

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