Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/31264
Authors: 
Mizrach, Bruce
Year of Publication: 
2005
Series/Report no.: 
Working papers // Department of Economics, Rutgers, the State University of New Jersey 2006,02
Abstract: 
I examine the effects of Nasdaq's introduction of an anonymous trading facility called SIZE. I compare SIZE to competing ECNs in terms of liquidity and market impact. Despite rapid growth, SIZE has not yet attained a significant market share and rarely influences short-run price evolution. I conclude with discussion of the Nasdaq-ECN mergers and speculate about a role for SIZE in trading listed securities.
Subjects: 
ECN
market impact
super montage
total view
JEL: 
G14
G20
Document Type: 
Working Paper

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