Lorsque les réseaux d'information deviendront des bourses

Thomas Serval

Revue économique, 2001, vol. 52, issue 7, 249-265

Abstract: Created by the Securities Exchange Commission ( SEC ), Electronic Communication Networks ( ECN ) were designed as alternative trading systems to bypass the monopoly of the market makers on NASDAQ. ECNS allow investors to execute orders directly, with more discretionary power and theoretically at a lower cost. ECNS can be understood as a first step towards a global decentralized marketplace and the sign of a convergence between stock markets and financial information networks. Classification JEL : G14, G15

JEL-codes: G14 G15 (search for similar items in EconPapers)
Date: 2001
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