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dc.contributor.authorGajewski, Jean-François
HAL ID: 22015
dc.contributor.authorGresse, Carole
dc.date.accessioned2009-06-18T09:05:23Z
dc.date.available2009-06-18T09:05:23Z
dc.date.issued2004
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/333
dc.language.isoenen
dc.subjectMicrostructureen
dc.subjectTrading costs
dc.subjectBid-ask spread
dc.subjectOrder book
dc.subject.ddc332en
dc.subject.classificationjelG1en
dc.titleA Comparison of Trading Costs on NSC (Euronext) and SETS (London Stock Exchange)en
dc.typeArticle accepté pour publication ou publié
dc.contributor.editoruniversityotherUniversité de Savoie;France
dc.description.abstractenIn a context of competition between exchanges, most European stock exchanges have now chosen order-driven systems for the trading of large capitalisations, yet some organisation specificities have remained, and the comparison of trading costs between order books with different trading rules has become extremely relevant. Therefore, the aim of this research consists in comparing spreads on two different types of auction market: the hybrid SETS (Stock Exchange Electronic Trading Service) electronic order book of the London Stock Exchange (LSE), for which UK Blue Chip stocks may be traded with dealers off the order book, and the almost pure centralised NSC (Nouveau Système de Cotation) electronic order book of Euronext, for which a concentration rule applies.
dc.relation.isversionofjnlnameRevue Bancaire et Financière
dc.relation.isversionofjnlvol68en
dc.relation.isversionofjnlissue4en
dc.relation.isversionofjnldate2004-06
dc.relation.isversionofjnlpages193-199en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherEditions Larcier
dc.subject.ddclabelEconomie financièreen


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